Mt. Gox Trustee Says Some Creditors Have Received BTC and BCH as Compensation

A trustee of defunct crypto exchange Mt. Gox says that some of its creditors have received compensation in the form of digital assets.

Some creditors of bankrupt crypto exchange Mt. Gox have received Bitcoin (BTC) and Bitcoin Cash (BCH) as compensation, according to a statement from the exchange’s trustee.

The payments were made on July 5, 2024, as part of the exchange's rehabilitation plan. However, not all creditors have received their payments yet.

The remaining payments will be made once certain conditions are met, the statement said.

Mt. Gox was once the world's largest BTC exchange, but it went bankrupt in 2014 after losing most of its tokens to theft.

Earlier this month, crypto asset management firm CoinShares said in a report that most Mt. Gox creditors will likely keep their BTC and, when they do sell, they’ll probably do so on multiple crypto exchanges at once. This would give other traders the chance to counter the downward price pressure created by their sales.

"The distributions will occur on a number of exchanges (Bitstamp, Kraken, Bitbank, BitGo, SBI VC Trade and others) at different dates throughout the month, softening the likelihood of large concurrent selling,” the report said.

The above is the detailed content of Mt. Gox Trustee Says Some Creditors Have Received BTC and BCH as Compensation. For more information, please follow other related articles on the PHP Chinese website!