After a decade of waiting, the Mt. Gox platform finally seems to be doing justice to its creditors. According to several reports, crypto refunds have started to be distributed. Enough to relieve former users of the exchange.
After a decade of waiting, Mt. Gox honors its crypto creditors
Just like the fall of FTX, the Mt. Gox affair shook the crypto ecosystem. Its abrupt bankruptcy in 2014 led to a 75% drop in the price of Bitcoin.
Trapped for almost 10 years now, creditors of crypto platform Mt. Gox finally report payments via PayPal. We are more specifically referring to various sharing of screenshots of Japanese yen payment emails on Reddit. Added to this is the testimony of several crypto creditors:
“I just got paid,” the Reddit user said Free-end254.
“I just got some money!” », maintains a other user from Reddit
In any case, this confirms the reality of the repayments so hoped for since the beginning of 2023. The scale of this achievement becomes clearer when we consider that some crypto creditors are receiving payments corresponding to a fraction of their initial claims. For example, a user received 30,283 yen (or approximately $200 at the current exchange rate, for a claim of 0.125 BTC).
The first signs of reimbursements emerge on December 21
This wave of crypto refunds occurs after Nobuaki Kobayashi’s announcement, the trustee of Mt. Gox, sent to creditors in November. These reimbursements, planned in several stages, should continue throughout 2024, according to official statements. The crypto platform even offers creditors a way to track the status of their requests.
Enough to add a layer of transparency to this long-awaited process. However, the absence of a precise timetable still raises questions among crypto creditors. They do not know when they will receive all of their claims.
Although partial for some crypto creditors, the payments initiated by Mt. Gox mark a significant step in the repayment process. More importantly, it signals the closure of a decade-long saga.
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