Sovereignty incident · inc-2014-jp-mt-gox
Mt. Gox: exchange closure and disappearance of bitcoin
MtGox Co., Ltd., a bitcoin exchange in Tokyo, closed its site at noon on 25 February 2014 and applied for civil rehabilitation at the Tokyo District Court on 28 February 2014. It reported that approximately 750,000 bitcoins deposited by users and approximately 100,000 of its own had disappeared, and a cash discrepancy of approximately JPY 2.8 billion. On 7 March 2014 it found approximately 200,000 BTC in an old-format wallet, which reduced the estimate of disappeared bitcoin to approximately 650,000. The rehabilitation trustee began repayments in bitcoin and bitcoin cash from July 2024.
- When
- Since (ongoing or open-ended)
- Jurisdictions
- Japan
- Kinds
- Freeze, Loss
What happened
The incident begins.
- Open
No end date: ongoing or open-ended.
Forms of money
Who was affected: Users with bitcoin or cash balances at the MtGox exchange. Bitcoin that users held in their own wallets, outside the exchange, was not held by MtGox.
Forms of money affected
- Balances held at a custodial exchange
Forms of money not affected
Each form of money links to the Money in everyday life matrix, which compares their properties with sources.
Sources
Sources: MtGox Co., Ltd., Announcement regarding an application for commencement of a procedure of civil rehabilitation (28 February 2014, English translation); MtGox Co., Ltd., Announcement regarding the balance of bitcoin held by the company (20 March 2014); MtGox Co., Ltd., Rehabilitation Trustee, Notice regarding Commencement of Repayments in Bitcoin and Bitcoin Cash (24 June 2024)