Key Takeaways:
- Mt. Gox will start repaying former users in Bitcoin and Bitcoin Cash from July 2024.
- Repayments depend on each exchange’s readiness, with over $9.4 billion owed to 127,000 creditors.
- In May, 141,686 BTC worth $9.62 billion were transferred, the first on-chain movement from Mt. Gox in five years.
The Mt. Gox cryptocurrency exchange, which lost 850,000 Bitcoin in 2014, will begin repaying its former users in July 2024.
The rehabilitation trustee has announced that repayments will be made in Bitcoin and Bitcoin Cash, starting with exchanges that have completed the necessary information exchange and confirmations.
Big News 🚨🚨
— Wise Advice (@wiseadvicesumit) June 24, 2024
Mt. Gox will start #Bitcoin and #BCH repayments in July 2024.
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The distribution of 142,000 BTC and 143,000 BCH is anticipated by the beginning of July 2024. pic.twitter.com/AcrEiO0GED
The trustee has requested patience from users, as the order of payments will depend on each exchange’s readiness.
Over $9.4 billion in Bitcoin is owed to around 127,000 creditors.
🚨BREAKING: Mt. Gox Will Begin #Bitcoin and Bitcoin Cash Repayments in JULY
— Kyle ChassĂ© (@kyle_chasse) June 24, 2024
F*cking $9 Billion worth of #Bitcoin repayments… pic.twitter.com/EPnkS6Z9ER
This follows a significant transfer of 141,686 BTC worth $9.62 billion in May, marking the first on-chain movement of funds from Mt. Gox in over five years.
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