Mt.Gox Investor Payouts Postponed Again

The long-suffering investors of one of the largest cryptocurrency exchanges, Mt.Gox, which suffered a hack in the year, are faced with a new postponement of the payment of compensation.

Previously, the trustee, who distributes funds among the victims, announced his readiness to pay 137 thousand BTC at the end of August 2022.

However, on August 31, a document appeared on the platform’s website stating that the court decided to start disbursing funds from September 15 and for an indefinite period.

Thus, this does not mean that payments will really begin on time, and when they are expected is unknown.

Recall that Mt.Gox was created in 2007. In 2011, the platform was hacked, during which the attacker stole 850 thousand BTC for $8.75 million. At that time, this was a colossal amount for the cryptosphere.

Despite this, in 2012-2013, the exchange continued to work actively and was almost a monopoly in the field of bitcoin transactions:

  • In August 2013, more than 47% of transfers were made through it.
  • In January 2014, the platform ranked 3rd in terms of market trading volume.
  • However, by February 2014, trading was stopped, and the exchange declared bankruptcy.

Later, 200,000 bitcoins were found in an old wallet that the hacker could not reach. It is they who will be distributed to the victims in accordance with the decision of the Japanese court.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.

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