Fun

Mt. Gox begins repayments in Bitcoin and Bitcoin Cash

News Feed - 2024-07-05 03:07:14

Josh O"Sullivan2 hours agoMt. Gox begins repayments in Bitcoin and Bitcoin CashThe collapsed exchange has started debt repayments to creditors via select crypto exchanges, following the rehabilitation plan.3186 Total views13 Total sharesListen to article 0:00Breaking newsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksMt. Gox, the collapsed crypto exchange, has begun repaying its debts in Bitcoin and Bitcoin Cash.


Repayments are being made to some rehabilitation creditors via designated crypto exchanges per its rehabilitation plan.


According to an X post by the MtGoxBalanceBot account, the total Bitcoin (BTC) balance on all known addresses of the Mt. Gox Trustee is 94,457 BTC, with 47,288 BTC being moved from these addresses since.Document stating Mt. Gox begins Bitcoin and Bitcoin Cash repayments to creditors on July 5, 2024. Source: Mt. Gox


Related:Bitcoin crashes to $53K, but analysts warn the worst isn’t overConditions for repayments


The repayments to the remaining rehabilitation creditors will be “promptly made” after multiple conditions have been met.


These conditions include confirming account validity and creditors’ acceptance of the intent to subscribe to the Agency Receipt Agreement by designated crypto exchanges. 


In addition to assuring repayments are made safely and securely, discussions regarding repayment procedures between the Rehabilitation Trustee and the exchanges must also be completed.


Related:Mt. Gox moves $2.7B in Bitcoin to new wallet addressThe rise and fall of Mt. Gox


Mt. Gox was founded in 2010 by Jed McCaleb and was one of the largest BTC exchanges, handling 70% of global BTC transactions at its peak. McCaleb sold it to Mark Karpelès in 2011.


In early 2014, the exchange suspended all BTC withdrawals, citing technical issues, but later revealed approximately 850,000 BTC was lost due to a long-standing security breach.


After filing for bankruptcy in February 2014 with liabilities far outweighing its assets, the case shifted to civil rehabilitation in 2018, and Karpelès was convicted of falsifying financial records in 2019.


Related:Bitcoin will crash to $50K, 10x Research warnsExchanges credited


According to several Reddit posts and users, BTC and Bitcoin Cash (BCH) have begun to be repaid and credited to exchanges.“On July 5, 2024, the Rehabilitation Trustee made a blockchain transfer of the BTC/BCH amount repayable to you as the Base Repayment and the Early Lump-Sum Repayment or the Intermediate Repayment.”Reddit user posting email received from Mt. Gox regarding repayment of BTC/BCH. Source: Reddit


The Reddit post details the email received by Mt. Gox, with “MtGox Co., Ltd.” as the Rehabilitation Debtor and Nobuaki Kobayashi, Attorney-at-law, as the Rehabilitation Trustee.


Magazine:‘Raider’ investors are looting DAOs — Nouns and Aragon share lessons learned# BitcoinAdd reaction

News Feed

Avalanche Value Surges Reaching an All-Time High, AVAX Joins the Top Ten Crypto Markets
Avalanche Value Surges Reaching an All-Time High, AVAX Joins the Top Ten Crypto Markets Cryptocurrency markets have started to recuperate from last week’s losses as bitcoin,
Ethereum Looks Strong Despite Volatility – $10,000 Price Target Gains Momentum
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Ethereum Fails To Break $2,100 Resistance – Growing Downside Risk?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Amid US Treasury Crypto Reserve Split Opinions, Could It Mean Good News for Best Meme Coins Like Meme Index?
US President Donald Trump announced yesterday that altcoins will be included in the government’s crypto strategic reserve. It’s an interesting move that has been met with mixed reactions. Could we potentially see mem
Total Value Locked in Defi Surpasses $200 Billion — Fantom, Avalanche, Harmony, Arbitrum TVLs Swell
Total Value Locked in Defi Surpasses $200 Billion — Fantom, Avalanche, Harmony, Arbitrum TVLs Swell Decentralized finance (defi) has swelled quite a bit this year and on October
Judge grants ex-FTX exec’s request to postpone reporting to prison
Turner Wright1 hour agoJudge grants ex-FTX exec’s request to postpone reporting to prisonRyan Salame will have an additional 45 days of freedom after his lawyers said there were medical complications due to a dog bite.
Santander to Offer Loans Backed by Agricultural Commodity Tokens
Santander to Offer Loans Backed by Agricultural Commodity Tokens Santander is developing the possibility of offering loans backed by tokens that are collateralized in agricultural
Biggest Movers: CVX Nearly 14% Higher, as RUNE Extends Friday’s Gains 
Biggest Movers: CVX Nearly 14% Higher, as RUNE Extends Friday"s Gains  CVX was trading nearly 14% higher to start the weekend, as RUNE extended yesterday’s gains, climbing
Multichain Bitcoin․com Wallet Now Supports Avalanche (AVAX)
Multichain Bitcoin․com Wallet Now Supports Avalanche (AVAX) press release Bitcoin.comhas added support for the smart contract platform Avalanche to its self-custodial web3 wallet.
Samsung Latam Launches ‘House of Sam’ Metaverse Experience in Decentraland
Samsung Latam Launches "House of Sam" Metaverse Experience in Decentraland Samsung Latam, the regional division of the electronics giant, has decided to present its own space in De
ECB Chief Christine Lagarde Downplays Bitcoin’s Risks to Financial Stability, Troubled by Stablecoins
ECB Chief Christine Lagarde Downplays Bitcoin"s Risks to Financial Stability, Troubled by Stablecoins ECB President Christine Lagarde downplays any risks bitcoin
Report: Freelance Workers in Argentina Among Most Active in LATAM Receiving Part of Paycheck in Crypto
Report: Freelance Workers in Argentina Among Most Active in LATAM Receiving Part of Paycheck in Crypto A recent report states that freelancing is experiencing a boom in Argentina,