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Affected Mt. Gox Users to Receive over $9 Billion in Bitcoin

According to a rehabilitation plan document filed with the Tokyo District Court for the closed-down crypto exchange Mt. Gox, creditors can expect to recover more than $9 billion worth of Bitcoin.

Mt. Gox went offline in February 2014 a substantial hack by which at the time almost half a billion USD was taken. At the time, it was the largest exchange in the world, responsible for 70% of all Bitcoin transactions at the time.

In the rehabilitation plan document, the Trustee said:

“The Rehabilitation Trustee would like to express sincere gratitude to all involved parties for their understanding and support. Depending on the situation, the confirmation order is expected to become final and binding in approximately one month from today.”

Once confirmed, creditors can register their bank accounts on Mt. Gox’s online filing system to receive their refunds. The Trustee noted:

“Rehabilitation creditors unable to log into the system may encounter difficulties in receiving repayments,” the Trustee also said.

The affected Mt. Gox users can expect almost 90% of the amount owed. The Trustee holds around $9 billion worth in Bitcoin at present value.

The post Affected Mt. Gox Users to Receive over $9 Billion in Bitcoin appeared first on iGaming.org.

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Author: Peter Siu