Mt. Gox CEO: No more bitcoins likely to be found

|By:, SA News Editor

Mt. Gox CEO Mark Karpeles no longer believes that any more of the 850k bitcoins (BITCN, OTCQB:BTCS) that were lost when the exchange collapsed will be found.

This past February, the now defunct exchange lost 850k bitcoins, approximately $500M, after a series of hacking attacks hit its systems. A month later Mt. Gox found 200k of the coins, and kept the search going to find the rest.

Two weeks ago, the company received approval to file bankruptcy proceedings in the U.S., and is still awaiting approval for a settlement and sale of its business.