Mt.Gox Repays BTC and BCH to Over 17,000 Creditors

Mt.Gox Repays BTC and BCH to Over 17,000 Creditors

The long-awaited day has finally arrived for over 17,000 Mt.Gox creditors as the bankrupt cryptocurrency exchange has begun repaying Bitcoin (BTC) and Bitcoin Cash (BCH) claims. The announcement came from the official statement released by Mt.Gox, stating that the repayments are being executed via designated cryptocurrency exchanges according to the Rehabilitation Plan approved by the court on July 5 and 24. The Rehabilitation Trustee, Nobuaki Kobayashi, has overseen the distribution of funds, with a total of 61,558.9 BTC (worth approximately $3.9 billion) transferred to designated exchanges, including Bitbank, SBI VC Trade, Kraken, and Bitstamp, since July 5. Notably, Mt.Gox still holds a significant amount of BTC, approximately 80,126 BTC (worth approximately $5.3 billion). Mt.Gox emphasized that the repayments aim to provide timely compensation to creditors who have patiently awaited the resolution of the exchange's bankruptcy proceedings. The remaining creditors will promptly receive their repayments once the necessary procedures are finalized, including verification of registered accounts and coordination with the designated exchanges handling the claims repayment. This development marks a significant milestone in the ongoing Mt.Gox saga, bringing relief to creditors who have been eagerly anticipating the recovery of their funds.