MtGox Exchange Updates Number of BTC to Be Reimbursed to Users Following $4.5 Billion Hack

MtGox victims' payout timeline latest: Rehabilitation trustee Nobuaki Kobayashi stated that creditors would be able to access their funds via a platform from September, although an exact date has not yet been confirmed.


MtGox Exchange Updates on Compensation Plan for Victims of $4.5 Billion Hack

According to a post on Reddit by several creditors, MtGox exchange has updated the latest rehabilitation plan on its official website.

The update includes the estimated number of tokens that will be distributed, in which users will be reimbursed in Bitcoin (BTC), Bitcoin Cash (BCH), and Japanese Yen.

As per the newly updated table, the exchange predicts to distribute the rehabilitation assets, including 142,000 BTC, 143,000 BCH, and 69 billion Yen to the creditors by October 31, 2024.

A recipient of MtGox payment shared his experience:

The Japanese exchange Mt. Gox suffered the collapse in February 2014, an event that raised concerns that it could kill the fledgling Bitcoin market before it had even turned five.

Although that did not happen, the fear of having to face such a catastrophe was real for many Bitcoin holders at the time.

From March 2011 to January 2014, over 880,000 BTC on MtGox were lost or stolen through various means.

Today, with Bitcoin’s price at an astronomical $45 billion, there are still major questions left unanswered a decade after its collapse.

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