The boss of Mt. Gox, a troubled crypto platform, is slowly moving to repay Bitcoin. The process involves reaching out to creditors to confirm who they are and check if they have accounts.
Loads of Mt. Gox creditors have shared they’ve recently got emails from the platform. Additionally, It seems the final steps of ID check for accounts destined to receive Bitcoin or Bitcoin Cash refunds are done!
A unique email popped up on Reddit’s Mt. Gox insolvency corner on Jan 22. It shares that a crypto exchange mentioned in the user’s repayment claim has officially confirmed account ownership with the trustee. However, the email looks forward to the exchange saying ‘yes’ to the user’s request for the agency receipt. It’s a step toward getting paid in BTC/BCH.
Moreover, the email stresses that if your account gets blocked or frozen in the future, it might stop you from getting your money back in BTC/BCH. It’s according to a basic translation of the message.
Numerous individuals on Reddit have attested to receiving an email from the trustee of Mt. Gox, with a predominant number of confirmations originating from users on the Bitstamp exchange. However, a handful of Kraken users have similarly acknowledged receiving the confirmation email, although the prevailing sentiment among Kraken users is that many have yet to accept it.
Decoding The Mt. Gox Saga: New Emails Emerge Amidst Repayment Controversy
Moreover, fresh emails from Mt. Gox surfaced as the trustee reimbursed bank accounts. In the latter part of Dec 2023, initial reports of Mt. Gox repayments emerged, revealing instances of certain creditors receiving duplicate payments.
Established in 2010, Mt. Gox, at its zenith, stood as the preeminent global Bitcoin exchange, overseeing approximately 70% of all BTC transactions until its dramatic downfall. The catastrophic security breach of 2014 resulted in the loss of 850,000 BTC, marking one of the most significant cryptocurrency bankruptcies in history.
As part of the restitution process, Mt. Gox’s is slated to reimburse its creditors with 142,000 Bitcoin and 143,000 units of the forked cryptocurrency, Bitcoin Cash. Additionally, the exchange aims to settle its financial obligations with 69 billion Japanese yen, equivalent to $510 million, by Oct 2024.
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