According to social media posts, creditors of Mt. Gox, a major Japanese crypto exchange that closed its doors in 2014 after a series of hacks and misconduct, are finally receiving the payout to which they are entitled. The insolvent exchange is said to have finally started distributing the restored Bitcoin (BTC) batch after long delays.
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Bitcoin refunds
In the Mt. Gox bankruptcy, 850,000 Bitcoins were lost, of which 142,000 were recovered. This massive amount of Bitcoins, as well as 142,000 Bitcoin Cash (BCH) and 69 billion Japanese Yen, would initially be returned to victims earlier this year.
However, the process was delayed several times. In September, the October 31 deadline for completing all refunds was pushed back by another year. However, it was said at the time that creditors who had already provided the necessary information would not be paid out until the end of this year at the earliest.
This appears to be a lie as several withdrawals have been posted on the Reddit page r/mtgoxinsolvency.
“I just got paid,” claimed Reddit user Free-end254, who included a screenshot of the PayPal receipt email.
“I just got money!” wrote another Redditor, adding that he initially thought the email was some sort of phishing scam before claiming an actual payment had landed in his PayPal account.
The first refund reported on Reddit dates back to December 21st. The refund will be made in several installments, including the basic refund “Early lump sum” Reimbursement and interim remuneration.
There is still no official information from Mt. Gox itself released it.
Almost 10 years after bankruptcy
Berg Gox was founded in 2010 and within a few years became an extremely important link within the crypto industry. At times it handled up to 70 percent of all Bitcoin trading worldwide.
In 2014, the crypto world was turned upside down by the exchange’s bankruptcy. The ongoing decline is considered one of the biggest debacles in the history of the crypto sector. After almost 14 years, the final chapter appears to have begun, much to the relief of all former customers.
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