The post Mt. Gox to start creditor repayments next month, asks users to ‘wait a while’ appeared on BitcoinEthereumNews.com.

Bankrupt crypto exchange Mt. Gox says its rehabilitation trustee will start processing repayments in bitcoin (BTC) and bitcoin cash (BCH) next month. This is according to a note issued by the exchange on Monday. In the note, Mt. Gox asks users to “wait for a while until the repayments are made” and says it has “taken time to ensure safe and reliable repayment to creditors, including technical remedies for safe repayments, compliance with financial regulations in each country, and discussion of repayment arrangements with the cryptocurrency exchanges.” Mt. Gox collapsed in February 2014 losing 850,000 bitcoins and affecting around 240,000 users. In an official statement last month, it stated that it was preparing to repay a portion of cryptocurrency rehabilitation claims either through the sale or direct transfer of crypto, whichever the creditor chooses. Read more: Mt. Gox repays some creditors, emails others to confirm accounts It subsequently transferred over 140,000 bitcoins, worth roughly $9 billion as it readied itself to make repayments to creditors in a ‘secure manner.’ In total, 16 bitcoin transactions were sent from Mt. Gox wallets and correlated with a bitcoin price dip of almost 2%. Got a tip? Send us an email or ProtonMail. For more informed news, follow us on X, Instagram, Bluesky, and Google News, or subscribe to our YouTube channel. Source: https://protos.com/mt-gox-to-start-creditor-repayments-next-month-asks-users-to-wait-a-while/

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Filed under: News - @ June 24, 2024 10:16 am