Mt. Gox has initiated its long-awaited repayment process to creditors. The defunct cryptocurrency exchange, which suffered a massive security breach in 2014, is now confirming Bitcoin and Bitcoin Cash addresses with its creditors. This move is a key part of the plan to repay a substantial portion of the lost funds.
Mt. Gox’s Progress in the Repayment Process
The trustee of Mt. Gox has been actively reaching out to creditors to verify their identities and the existence of their accounts on cryptocurrency exchanges. This verification is crucial for facilitating the repayment of Bitcoin (BTC) and Bitcoin Cash (BCH).
Creditors, moreover, have reported receiving emails from the trustee confirming the completion of this process. These emails, as shared on Mt. Gox’s insolvency hub on Reddit, indicate that the exchanges involved have confirmed the account ownership with the trustee.
The repayment process involves major cryptocurrency exchanges like Bitstamp and Kraken. Most confirmation
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