@vitalkravetz
Mt. Gox, the Japanese Bitcoin exchange that notoriously collapsed in 2014, will begin distributing repayments to its creditors in Bitcoin and Bitcoin Cash starting in July 2024. This marks a significant milestone in resolving the decade-old financial debacle that led to years of legal proceedings and recovery efforts. Approximately 200,000 Bitcoins were recovered in 2018, initiating a lengthy rehabilitation process overseen by a court-appointed trustee. Creditors, who have been awaiting compensation amidst multiple delays, will now start receiving their repayments. The exchange owes 142,000 BTC, over $9 billion, and aims to complete the payouts by October 31, 2024. The exact details of the repayment plan and timeline are closely watched by the crypto community, as this distribution seeks to compensate users for their lost funds.
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