MtGox Repayments Continue: 19,000 Creditors Receive Bitcoin and BCH
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
MtGox, once the world’s largest Bitcoin exchange, continues its long-awaited rehabilitation process, repaying more than 19,000 creditors with Bitcoin (BTC) and Bitcoin Cash (BCH).
These repayments are another step forward in the recovery effort following the exchange’s infamous collapse in 2014 when hundreds of thousands of bitcoins were stolen.
On August 21, Nobuaki Kobayashi, the MtGox Rehabilitation Trustee, announced the latest round of repayments to creditors in Bitcoin and Bitcoin Cash as part of the ongoing Rehabilitation Plan.
The distribution of these funds was facilitated through various Designated Cryptocurrency Exchanges, which have been working closely with the Trustee to ensure the secure and accurate transfer of assets.
The process, however, is not yet complete. Repayments to the remaining creditors are pending and will proceed once several conditions are met.
These include corrections of information and actions required by the creditors, validation of registered accounts, acceptance of the Agency Receipt Agreement by the involved exchanges, and the successful completion of discussions between the Trustee and these exchanges.
The priority is ensuring that all repayments are conducted safely and securely, according to the guidelines outlined in the Rehabilitation Plan.
The downfall of MtGox in February 2014 was one of the most impactful events in cryptocurrency history.
Founded by Jed McCaleb in 2010 and later acquired by Mark Karpelès, the exchange quickly became the largest platform for Bitcoin trading, handling around
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