The post Angry Investor to Sue Mt. Gox for Refusing to Honor Bitcoin Claims appeared on BitcoinEthereumNews.com.

Coinspeaker Angry Investor to Sue Mt. Gox for Refusing to Honor Bitcoin Claims A disgruntled investor is preparing to take legal action against Mt. Gox, a once-dominant crypto exchange that collapsed in 2014 after cybercriminals stole around 850,000 Bitcoins (BTC) from the platform. The investor, who goes by the pseudonym Dense_Spite3160 on Reddit, recently shared his experience in a post that quickly gained attention. He claimed that Mt. Gox has refused to honor his rightful claims to a small Bitcoin balance he held before the exchange’s downfall and is now looking to sue the firm to recover his asset. The Investor’s Story According to the Thursday post on Reddit, Dense_Spite3160 was an early Bitcoin adopter who mined the crypto asset on a basic laptop. At the time, he stored some of his Bitcoin stash on the exchange and had a modest balance when the company collapsed. The company was then the largest Bitcoin exchange in the world, handling more than 70% of all Bitcoin transactions globally. However, his experience took a drastic turn when Mt. Gox was hacked and subsequently filed for bankruptcy. Disheartened by the loss and the legal complexities that followed, Dense_Spite3160 stepped away from the crypto scene altogether, choosing not to follow the recovery efforts led by the exchange’s bankruptcy lawyers. The Discovery and the Dispute Years passed, and the investor’s interest in crypto remained dormant until he recently came across news headlines about Mt. Gox finally starting distributing payouts to creditors. This prompted him to check his old email account, where he discovered several messages from the legal teams handling the Mt. Gox insolvency. One of these emails, dated around 2019, referenced a Z2 creditor number which is evidence that he was indeed recognized as a creditor in the proceedings. Eager to reclaim his lost Bitcoin,…

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Filed under: News - @ August 3, 2024 7:22 pm