The post Mt. Gox Creditors Receiving Long-Awaited Repayments appeared first on Coinpedia Fintech News
After nearly a decade of waiting, creditors of the defunct Bitcoin exchange Mt. Gox have started receiving repayments for their trapped Bitcoin. The news emerged on social media forum Reddit, where several users claimed to have received Japanese Yen-denominated refunds via PayPal. The repayments come just a month after trustee Nobuaki Kobayashi announced plans to commence repayments to creditors in cash in 2023, with further payments expected in 2024.
Collapse of Mt. Gox
Mt. Gox, which was one of the largest Bitcoin exchanges at the time, suddenly announced in February 2014 that it had lost approximately 850,00 Bitcoins, worth around $450 million at the time. The exchange also claimed that an additional 100,00 Bitcoins were missing, bringing the total to around 950,00 Bitcoins. The exact reason behind theft has never been fully explained, but it is believed to have been a combination o
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