After a decade of anticipation, July may finally bring restitution to the users of the now-defunct Mt. Gox exchange.
Mt. Gox, the cryptocurrency exchange that lost 850,000 Bitcoin in investor funds in 2014, will start repaying its former users.
Mt. Gox’s rehabilitation trustee will begin processing repayments in Bitcoin and Bitcoin Cash starting in July 2024, according to an announcement issued on June 24.
“The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments,” the statement read.
The Trustee has once again asked users for patience, noting that the order of the payments will depend on the respective cryptocurrency exchange:
“We will start the repayments in the order of the cryptocurrency exchanges with which the Rehabilitation Trustee completes the exchange and confirmation of the required information. Please be patient until the repayments are made.”
Summary Review: The long-awaited repayment process for Mt. Gox users is set to begin, marking a significant step towards resolution for those affected by the exchange’s collapse.
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