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Mt.Gox Creditors Receive Japanese Yen Repayments Via PayPal

Published 12/26/2023, 06:21 PM
Updated 12/26/2023, 06:45 PM
Mt.Gox Creditors Receive Japanese Yen Repayments Via PayPal

  • Mt.Gox creditors have reportedly started receiving repayment of their bitcoins that got stuck on the exchange.

  • In 2014, more than 24,000 users’ Bitcoin holdings were trapped on Mt.Gox when the firm collapsed.

  • Many creditors holding a PayPal (NASDAQ:PYPL) account have received Japanese-Yen-denominated repayments.

Creditors of the fallen Bitcoin exchange Mt.Gox claimed that the firm has started reimbursing their BTC, which got stuck on the exchange on February 24, 2014. According to the creditors’ statement on Reddit, Mt.Gox has initiated the repayment procedures via PayPal, sending Japanese yen to the creditors’ accounts.

Launched in 2010, Mt.Gox emerged as the world’s largest Bitcoin trading exchange. However, in 2014, the platform collapsed, causing more than 24K customers’ Bitcoin holdings to be trapped on the exchange.

In November 2023, some of the creditors received official mail from the Mt.Gox bankruptcy trustee confirming the commencement of the reimbursement procedures in 2023. The mail also hinted that the procedures would likely continue into the next year.

As similar notices of reimbursement have been received previously, not many customers were …

The post Mt.Gox Creditors Receive Japanese Yen Repayments Via PayPal appeared first on Coin Edition.

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