Mt. Gox Begins $9 Billion Bitcoin and Bitcoin Cash Repayments to Creditors After 10 Years, Spooks Markets

Jul 5, 2024, 06:42 AM

Bankrupt cryptocurrency exchange Mt. Gox has begun repayments to its creditors, marking a significant step in the rehabilitation process after over a decade. On July 5, 2024, the Mt. Gox Rehabilitation Trustee initiated repayments in Bitcoin and Bitcoin Cash to some rehabilitation creditors through designated cryptocurrency exchanges. This move is in accordance with the Rehabilitation Plan. The total amount of repayments is estimated to be around $9 billion. Further repayments to other creditors will follow in due course. The news has spooked markets, reflecting the impact of the long-awaited repayments.