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Mt. Gox Creditors Closer to Reclaiming $9 Billion in Bitcoin

Published 04/23/2024, 04:03 PM
Updated 04/23/2024, 04:15 PM
© Alpha Footage Mt. Gox Creditors Closer to Reclaiming $9 Billion in Bitcoin
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  • Mt. Gox creditors receive updates on the $9 billion Bitcoin payout.

  • Repayment details include the number of tokens and potential dates.

  • Concern remains over the impact of mass sell-off on Bitcoin price.

Creditors of the once-dominant Mt. Gox cryptocurrency exchange have received long-awaited updates on their claims, indicating a potential turning point in the disbursement of a $9 billion Bitcoin hoard.

These updates, according to creditors, include details such as the specific number of digital tokens slated for return and, in some cases, even tentative repayment dates. This marks a significant development for creditors who have been in limbo for nearly a decade following Mt. Gox’s collapse in 2014.

Mt. Gox, headquartered in Tokyo, reigned supreme as the world’s leading Bitcoin exchange before succumbing to a devastating hack in 2011. The hack resulted in the loss of a substantial portion of Mt. Gox’s Bitcoin holdings, ultimately forcing the exchange to file for bankruptcy three years later. Currently, the fallen platform holds roughly 137,892 Bitcoin, with an estimated market value of $9.2 billion.

The news of potential repayments comes as a welcome …

The post Mt. Gox Creditors Closer to Reclaiming $9 Billion in Bitcoin appeared first on Coin Edition.

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