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Sorry if this is a stupid question, but did Mt. Gox have their wallets? Why didn't these people keep their wallets with them?
by rondon2 13y ago
Sorry if this is a stupid question, but did Mt. Gox have their wallets? Why didn't these people keep their wallets with them?
- steveklabnik 13y agoThe way that exchanges work is that they hold a wallet for you, you deposit money into it, and then you do off-blockchain trades with other users. At some point, you ask to withdraw, and give them your local wallet address, and then they send you the coins.
- rondon2 13y agook so Mt.Gox should still have the digital wallets. The whole point of bitcoin is that you don't need a central bank/exchange holding your wallet. But people used one anyways and now Mr.Gox doesn't know where the money went.