On September 12th Zheleznikov and Partners, a Russian law firm has proposed legal action in Russia that would allow it to recover 200,000 BTC lost during the Mt. Gox fiasco. Today 200,000 BTC is estimated to be worth $2 billion USD.
In a Q&A session with Andy Pag, lawyers from Zheleznikov said they would be able to recover the BTC by taking legal action against Russian nationals who received the stolen funds saying “We want to make clear that we do not yet know the identities of all persons. We have strong reasons to believe that their identities will be revealed by the police investigation bringing existing information together, but we hope that once the criminal case starts they will come forward quickly and offer to give compensation to victims.”
This legal action is not out of Zheleznikov and Partners good hearts though. They will be charging a 75% to recover the funds, though that fee is only due upon successful recovery.
Mt. Gox was one of the largest bitcoin exchanges handling over 70% of all BTC trading. In 2014 the exchange was undergoing mounting scrutiny from international regulators and on February 28 , filed for bankruptcy protection. The exchange told regulators that it had lost around 750,000 BTC of customers deposits and 100,000 of it’s own BTC, blaming hackers for the loss. This represented around 7% of all the BTC at the time.
Source and Image: Coin Telegraph