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Bankrupt bitcoin exchange Mt. Gox finds 200,000 of its missing bitcoins

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FILE - In this Wednesday, Feb. 26, 2014 file photo, Bitcoin trader Kolin Burges stands in protest outside an office building housing Mt. Gox in Tokyo. Bankrupt bitcoin exchange Mt. Gox said it found 200,000 bitcoins, which were previously thought stolen, in disused electronic wallets. Another 650,000 bitcoins still remain unaccounted for. (AP Photo/Shizuo Kambayashi, File)

Bankrupt bitcoin exchange Mt. Gox says it found 200,000 bitcoins, which were previously thought stolen, in disused electronic wallets. Another 650,000 bitcoins still remain unaccounted for.

The Tokyo-based company says in a statement posted on its website Thursday that the 200,000 bitcoins were identified Mar. 7 after “old format” wallets were searched as part of Mt. Gox’s bankruptcy proceedings.

The online exchange for the virtual currency was unplugged in late February as rumours of its insolvency swirled, adding to doubts about the viability of bitcoins overall.

It then filed for bankruptcy protection in Tokyo and said about 850,000 bitcoins were missing, most likely as a result of theft.

At current prices, the rediscovered bitcoins have a market value of about $120 million.

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