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Mt. Gox, the cryptocurrency exchange that lost 850,000
Bitcoin in 2024, will start repaying its defunct users. The rehabilitation
trustee has announced that repayments will be processed in Bitcoin and Bitcoin
Cash starting July 2024, according to a written note by the exchange issued on
June 24.
Repayments to Start Soon
According to a statement, the rehabilitation trustee will
begin the repayment process in due course. The trustee has completed the
exchange and confirmation of the required information with certain
cryptocurrency exchanges. The repayments will be made through these exchanges.
The trustee has requested users to remain patient. The order
of the payments will depend on the respective cryptocurrency exchange.
“We will commence the repayments in the order of the
cryptocurrency exchanges with which the Rehabilitation Trustee will complete
the exchange and confirmation of the required information. Please wait for a
while until the repayments are made,” the trustee stated.
BREAKING: Mt Gox to start $BTC and $BCH repayments in July. Expect turbulence, especially with Fed week this week too.The Tokyo-based Mt. Gox was hacked in 2011 and went bankrupt in 2014 after it lost 850,000 #BTC. It will repay creditors around $9 billion in #Bitcoin,… pic.twitter.com/VXAzGnLncg
— Ken Standfield (Inventor – CTKS Method) (@StandfieldKen) June 24, 2024
This announcement comes after a long period of anticipation
from the users who lost their funds. The rehabilitation process has been
ongoing for several years. The trustee’s latest statement suggests that the
process is moving forward.
This article was written by Tareq Sikder at www.financemagnates.com.
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