Bitcoin and Bitcoin Cash Repayments
Mt. Gox, the defunct crypto exchange, has finally started repaying its creditors in Bitcoin (BTC) and Bitcoin Cash (BCH). This comes almost a decade after the platform collapsed and went bankrupt.
Repayment Process
The repayment process involves designated exchanges like Bitbank, Kraken, and Bitstamp. These exchanges will make the funds available to creditors for up to 90 days.
Verification and Security
To ensure secure and efficient repayments, creditors must verify their accounts and accept an Agency Receipt Agreement.
Creditor Experiences
Some creditors have already received their BTC and BCH payments. One creditor shared an email from Mt. Gox confirming the transfer.
BTC Market Impact
The repayment announcement has impacted the Bitcoin market, causing a drop in prices. The movement of BTC by Mt. Gox has raised concerns about potential sell-offs.
