Mt. Gox Repayments to Creditors Start

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.