The announcement follows the execution of initial test transactions on the Bitstamp exchange three days prior.
Bitstamp has started the repayment process for Mt. Gox creditors after receiving all the funds owed to them from the trustee.
The cryptocurrency exchange received all the Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) and began repaying creditors on July 25.
According to an announcement shared with WEB30NEWS, recipients can expect full access to their assets within a week, pending the completion of necessary security checks.
Jean-Baptiste Graftieaux, the global CEO of Bitstamp, commented on the development, stating:
“Although the Mt. Gox incident should never have happened, the appreciation of Bitcoin’s price since then shows its value as an asset. We’re proud to play our part in making the Mt. Gox investors whole. Many of them will now see a significant profit despite the long wait.”
Over $9.4 billion worth of Bitcoin is owed to approximately 127,000 Mt. Gox creditors who have been waiting for over 10 years to recover their funds, raising concerns about potential sell pressure from these creditors.
This announcement comes shortly after Mt. Gox executed the first test transactions on the Bitstamp exchange.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
