Mt Gox's missing bitcoins were stolen from the exchange over a period of time beginning in 2011, according to a new report released today by a group investigating its collapse.
They were gone long before the company's collapse in February 2014, the report said. Gox had therefore been operating on a fractional reserve basis for most of that time, either knowingly or unknowingly.
The stolen bitcoins had been withdrawn and sold off on various exchanges including Mt Gox itself, and given the timing probably at prices far below the 2013-14 highs.
