Mt.Gox, the popular cryptocurrency exchange, has announced that it will begin refunding Bitcoin (BTC) and Bitcoin Cash (BCH) payments. The trustee of Mt.Gox stated that preparations have been made to start the refund process, and refunds will be issued starting from July 2024. This news comes as a relief to users who lost their funds during the infamous Mt.Gox hack.
According to Bloomberg, the Board of Trustees of Mt.Gox released an official statement regarding the start of Bitcoin and Bitcoin Cash refunds. The statement mentioned that the Rehabilitation Board of Trustees has completed the necessary exchange and approval of information required for the implementation of the refunds. As a result, the refunds will be conducted in accordance with the cryptocurrency exchanges where the necessary process has been completed.
The announcement has been received positively by the crypto community, as it marks a significant step towards the resolution of the Mt.Gox incident. Mt.Gox was once the largest Bitcoin exchange in the world before it filed for bankruptcy in 2014. The exchange was hacked, resulting in the loss of around 850,000 Bitcoins, which were worth billions of dollars at the time.
Since then, the rehabilitation process has been ongoing, with the aim of compensating the affected users. The trustee has been working diligently to recover and distribute the lost funds. The decision to start refunding Bitcoin and Bitcoin Cash payments is a major milestone in this process.
It is important to note that this news does not constitute investment advice. However, it does provide hope for those who lost their funds in the Mt.Gox hack, as they may finally receive compensation for their losses. If you are interested in investing in cryptocurrencies, make sure to conduct thorough research and consult with a financial advisor.
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