It’s still not clear what happened to the 850,000 Bitcoins that were lost by the Tokyo-based Mt.Gox, once the biggest Bitcoin exchange market in the world before it collapsed in bankruptcy this year. But we might find out in the near future.
The San Francisco based Bitcoin exchange “KRAKEN” has decided to help with the search for the missing Bitcoins, along with eventually redistributing anything they can retrieve to creditors as part of a liquidation.
Kraken CEO Jesse Powell: “We will use our resources and expertise to minimize the damage to the creditors and restore confidence in the Bitcoin community.”
The former top Bitcoin exchange lost 750,000 of its customers Bitcoin and another 100,000 of its own. In US dollars the lost Bitcoin had a net worth of approximately $480,000,000 at the time of the exchange’s bankruptcy.
Contrary to popular believe, the Kraken team will not be paid for this undertaking. However, they could very well benefit from this investigation as they might welcome a lot of new clients, as former Mt. Gox account holders register to receive further distribution from the liquidation.
“We hope to revive bitcoin’s reputation and create a healthy market for it, ultimately leading to profit for us,” Ayako Miyaguchi, managing director of Kraken’s Japanese operations, told reporters.
This news comes shortly after Kraken’s October announcement regarding the launch of dedicated bitcoin/yen order book. The next creditors meeting should take place somewhere in April 2015. Creditors should be able to file their claims until May 2015.