I'm just reading about how lost+found is/was used to store corrupted files that came out of system recovery. However, searching my computer i can only mklost+found files and what appears to be binaries of that name.
Was there a reason for removing this folder?
As before, the lost+found directory is present on any partition formatted with the ext file system. See here on Askubuntu to learn about its purpose.
mklost+found is a system command used to create such lost+found directory on an ext file system. Use the command which mklost+found to find out it is located in /usr/sbin/. See the man page for its purpose and how it is used (i.e.e, type man mklost+found in the termnal.
Snaps and Flatpaks may add their own mklost+found, you you may find multiple such binaries on a linux system that supports Snap or Flatpak. On Ubuntu versions with snap support, you will find mklost+foundexecutables associates with the core snap. The org.gnome.Platform flatpak also provides such a binary.
