Bitstamp Initiates BTC, BCH Distribution to Mt. Gox Creditors

IconCryptoNewsTerminal Staff24 Jul, 2024

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Bitstamp Initiates BTC, BCH Distribution to Mt. Gox Creditors

The Block, a renowned cryptocurrency outlet, recently reported through their official Twitter account that Bitstamp, one of the exchanges designated to facilitate the Mt. Gox creditor payout, has initiated the distribution of cryptocurrencies, including Bitcoin (BTC) and Bitcoin Cash (BCH), to affected individuals. This development marks a significant step in the long-awaited compensation process for Mt. Gox creditors, following the infamous hack that resulted in the loss of a substantial number of bitcoins a decade ago. Notably, Bitstamp is among the several exchanges appointed to oversee the arduous task of distributing the recovered funds to Mt. Gox creditors. The process is expected to be a gradual one, with the distribution being executed in multiple phases. The creditors are advised to keep a close watch on official announcements and communications from the appointed exchanges to stay informed about the progress and specific arrangements for receiving their respective compensations.

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