Mt. Gox finds nearly a quarter of missing Bitcoins

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The found bitcoins were located in a virtual 'wallet,' Mt. Gox said.

Major Bitcoin exchange Mt. Gox says it has found 200,000 of the 850,000 pieces of the virtual currency it said it lost in late February before it filed for bankruptcy, two news organizations are reporting.

The company said the found bitcoins were located in a virtual 'wallet' used previously, Kyodo News International reported.

The revelation came from a document released Thursday that included statements from Mt. Gox Chief Executive Mark Karpeles, the Wall Street Journal reported.

When Mt. Gox filed for bankruptcy protection on Feb. 28th, Karpeles said the losses may have been caused by a technical issue that might allow users to make fraudulent withdrawals, according to the Journal.

Japanese regulators did not oversee Mt. Gox and, therefore, users' deposits were not insured by a government entity, the Journal reported.

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