The full crisis strategy draft. Mt. Gox lost nearly 745.000 BTC

MtGox Situation: Crisis Strategy Draft by twobitidiot

From Coindesk |A document has surfaced suggesting that troubled Japan-based bitcoin exchange Mt. Gox will close for one month as part of a four-step rebranding plan, and that CEO and former Bitcoin Foundation board member Mark Karpeles will step down from his executive position as part of the process.

The bitcoin price has been tumbling all morning amid the news, hitting a low of $419 so far.

Entitled “Crisis Strategy Draft,” the document suggest the company’s increasingly dire financials are greatly impacting the decision. By Mt. Gox’s own estimates, they say, it has only 2,000 BTC and approximately $22.4m in fiat currencies in its possession.

The document was first reported by Ryan Galt, aka the Two-Bit Idiot, who later confirmed to CoinDesk:

“Several sources familiar with the situation confirmed the legitimacy of the loss claims and the authenticity of the ‘Crisis Strategy’ document.”

The document is branded with the current Mt. Gox logo and a redesigned version, and claims to have detailed inside knowledge of Mt. Gox and its financial affairs, but appears to be written by a team external to Mt. Gox’s current management.

The document is publicly available for viewing here and embedded below this article.

According to the leak, Mt. Gox has lost close to 744,408 BTC or $350m at current prices, and faces an unconfirmed additional $55m in fiat liabilities. The company suggests that theft related to transaction malleability has been ongoing for several years, but was not reported by the company.

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