MtGox Confirms that the Exchange was Hacked

Embattled Bitcoin exchange MtGox has issued a statement addressing its recent controversies, namely the loss of millions of dollars worth of the cryptocurrency.

A statement was posted on the main MtGox page that suggests their servers had in fact been compromised.

“At the start of February 2014, illegal access through the abuse of a bug in the bitcoin system Resulted in an Increase in incomplete bitcoin Transfer transactions and we Discovered That There WAS a Possibility That Bitcoins had Illicitly Been Moved through the abuse of this bug.”

International Business Times

MtGox followed the story up by claiming the only way for the people affected by this massive hack to get paid back was to “restore faith” in the now-defunct exchange and enable them to repay their cranky creditors that much faster.

“In order to increase repayments to our creditors, it is necessary to explore the possibility of having MtGox Co., Ltd. Continue its business. This is why the civil rehabilitation procedure has been chosen, Rebuilding MtGox Co., Ltd under the supervision of the Court in a Legally organized procedure while giving proper Explanations Will not BE for the Sole Benefit of the company but for the whole of That bitcoin Community.

All Efforts Will Now BE made ​​to restore the business and recover Damages to Repay Debts to Creditors. We Hope for the understanding and cooperation of all.”

“Why anyone would ever trust them again?” is a question that many investors will likely be asking each other once this news goes viral, and to that question MtGox has already responded with $33 million in raw assets that could be used to get their marketplace back on its feet.

Before you start regaining hope though, you should know they also claimed around $60 million of “financial obligations” in the same breath, and seemed more desperate than optimistic about their chances of paying the sum back before they go bust.