Kraken to Distribute $3B in Bitcoin, $53M in Bitcoin Cash from Mt. Gox Within 7-14 Days, Early Payments Expected

Jul 16, 2024, 11:21 AM

Kraken has announced that it has successfully received funds from the Mt. Gox Trustee and will distribute them to creditors within the next 7 to 14 days. The funds include Bitcoin (BTC) and Bitcoin Cash (BCH). The total amount to be distributed is approximately $3 billion in Bitcoin and $53 million in Bitcoin Cash. Affected users have been notified via email that they should expect the funds to be credited to their accounts within this timeframe. Early payments will be transferred to the Kraken account. The amount received by each creditor is determined by the trustee, and $3.1 billion was sent to distribution wallet 3JQi today. This marks a significant step forward for Mt. Gox creditors who have been waiting for years to receive their funds.