Feeds

Brit Bitcoin dev: I lost 'over £200k' when MtGox popped its socks

Calls on Japanese cops to take action

The Power of One Brief: Top reasons to choose HP BladeSystem

A leading British Bitcoin dev who claims to have lost more than £200,000 in the collapse of MtGox says he has written to Japanese police asking them to take action.

Under the name Rebroad, Richard Broadley is one of the world's top cryptocurrency software developers, placed as the 12th most active contributor to the Bitcoin protocol.

All in all, he claimed to have lost £70,000, 500,000 baht (£9,200) and 450 Bitcoins worth £157,500 at the current exchange rate of just under £350 per coin.

He is one of a number of people who contacted The Reg to ask what to do if they had lost their Bitcoins or various deposited currencies after the Gox exchange fell over.

However, all the others reported smaller losses than Broadley, who told us he'd had a large and longstanding investment in the exchange.

All the Bitcoins and fiat currency held in MtGox are being withheld and there are no plans to allow concerned customers to access them.

The exchange now says 850,000 Bitcoins altogether have disappeared - worth about $429m.

The British dev hopes that law enforcement agents will take action, even though it is not yet clear who is to blame for the slow leak which MtGox attributed to "illicit movement through the abuse of [a transaction malleability] bug".

But Broadley said he'd shared information with officials in Japan about his understanding of the protocol. The dev told El Reg: "I have contacted Japanese authorities to see if I can progress this, but of course, I would welcome any advice and support that might be available."

The Tokyo Metropolitan Police have said they are looking into the case, but have provided no updates over the past four days.

Just over a week ago, Japan's Chief Cabinet Secretary Yoshihide Suga told a news conference that: "At this stage the relevant financial authorities, the police, the Finance Ministry and others are gathering information on the case," Reuters reported.

Meanwhile, US Attorney for the Southern District of New York, Preet Bharara, has also sent off subpoenas to MtGox.

Broadley might want to contact the London law firm Selachii LLP, which is preparing to launch a class action against MtGox on behalf over 400 clients from around the world.

Richard Howlett, partner at the law firm, said: "It will [all] come out in court.”

Do you know anything about what happened at MtGox? Get in touch and let us know. ®

Designing a Defense for Mobile Applications

More from The Register

next story
Adam Afriyie MP: Smart meters are NOT so smart
Mega-costly gas 'n' 'leccy totting-up tech not worth it - Tory MP
Just TWO climate committee MPs contradict IPCC: The two with SCIENCE degrees
'Greenhouse effect is real, but as for the rest of it ...'
'Blow it up': Plods pop round for chat with Commonwealth Games tweeter
You'd better not be talking about the council's housing plans
Arrr: Freetard-bothering Digital Economy Act tied up, thrown in the hold
Ministry of Fun confirms: Yes, we're busy doing nothing
ONE EMAIL costs mining company $300 MEEELION
Environmental activist walks free after hoax sent share price over a cliff
Help yourself to anyone's photos FOR FREE, suggests UK.gov
Copyright law reforms will keep m'learned friends busy
Apple smacked with privacy sueball over Location Services
Class action launched on behalf of 100 million iPhone owners
UK government officially adopts Open Document Format
Microsoft insurgency fails, earns snarky remark from UK digital services head
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.