Enlarge / Bitcoin trader Kolin Burges from London speaks to reporters as he protests against Tokyo-based bitcoin changer Mt. Gox in front of the company’s office in Tokyo on February 26, 2014. (credit: YOSHIKAZU TSUNO/AFP/Getty Images)

At least four hedge funds have “begun buying or offering to buy claims” from the thousands of people who lost bitcoins when Mt. Gox collapsed three years ago, according to the Financial Times, which cited anonymous sources.

Mt. Gox, a Japan-based bitcoin exchange, collapsed nearly three years ago. It first buckled after weeks of sustained DDoS attacks and “transaction malleability” problems, which led the company to halt withdrawals entirely. The company filed for bankruptcy protection in Japan not long after.

However, about a month later, in March 2014, Mt. Gox CEO Mark Karpeles suddenly announced that he had found an “old format wallet” containing approximately 200,000 bitcoins. At present exchange rates, that sum is worth over $200 million.

Read 7 remaining paragraphs | Comments

Source: Hedge funds reportedly want to buy Mt. Gox bankruptcy claims | Ars Technica

No ratings yet.

Leave a Reply

Be the First to Comment!

wpDiscuz