Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n
During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong> Mt Pelerin launches a Tezos on-and-off ramp widget to help ecosystem projects, onboard users<\/a><\/p>\n\n\n\n Over 127,000 creditors expect to be paid by Mt.Gox. This comes after over 10 years since the collapse of the exchange in 2014, orchestrated by multiple hacks.<\/p>\n\n\n\n During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17547,"post_author":"21","post_date":"2024-06-30 17:41:06","post_date_gmt":"2024-06-30 07:41:06","post_content":"\n Defunct cryptocurrency exchange Mt. Gox will start processing payments for users starting early July. Payments to users will be in the form of Bitcoin and Bitcoin Cash. In a blog post<\/a>, Mt. Gox said:<\/p>\n\n\n\n \"The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments.\"<\/em><\/p>\n\n\n\n The trustee urged users to be patient, pointing out that the order of payments will depend on the cryptocurrency exchanges and the confirmation of the pertinent information.<\/p>\n\n\n\n See Related:<\/em><\/strong>
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Significant Bitcoins in Repayments<\/h2>\n\n\n\n
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The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
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Significant Bitcoins in Repayments<\/h2>\n\n\n\n
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The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
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Significant Bitcoins in Repayments<\/h2>\n\n\n\n
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The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
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