Cryptocurrency exchange Mt.Gox, which stole a dubious amount of more than 137,000 Bitcoins (BTC) years ago, has set a date for the refund.
Mt.Gox will make Bitcoin payments on this date
In fact, according to the most recent publicly available document posted on the exchange’s website on August 31, the court ruled that the “Assignment etc. Approved the “Restriction Reference Period”. In conclusion, it should be noted that payments from these items do not necessarily mean that they will start on September 15th.
Mt. According to Django Bits, which allegedly is a channel operator for Gox creditors, this repayment procedure could take “months if not years.”
As mentioned earlier, the trustee is not yet ready to pay. There will be a KYC process, explain how payments will be made etc, collect bank account data, etc. This will take months, if not years. Nothing the board of trustees does is quick.
Investors closely monitor the trustees’ account balance
Investors, Mt. Gox creditors are monitoring the balance of the trustees in light of the controversy surrounding the repayment process. This balance is the equivalent of 137,890 BTC to Mt. It can be monitored using the measure showing that it is in Gox reserve.
Historical Bitcoin hack
At the beginning of 2014, Mt.Gox, a Japan-based Bitcoin exchange, was the world’s largest Bitcoin exchange, handling more than 70% of all BTC transactions in the world. It went bankrupt at the end of February 2014. Thus, anyone using Mt.Gox lost access to their wallets. This has been a cautionary tale for crypto investors. While not all of the coins were lost, everything else was frozen over the years.
In the attack, approximately 740,000 Bitcoins were stolen, valued at over $3 billion at October 2017 prices. Mt. The 650,000 lost Bitcoins as a result of the Gox attack remain undisclosed. A number of internet theories have been developed regarding the whereabouts of lost Bitcoins. Some argue that Mt.Gox never had the amount of coins he claimed, and that Karpelés had returned to Mt. He suggested that Gox manipulated the numbers to show he was holding more BTC than he actually was.
According to data from Glassnode, there are currently 137,890 Bitcoins in Mt. These BTCs are reserved to be redistributed to victim users.
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