Mt. Gox Begins Repayment Process with $5.8 Billion in Bitcoin, Tests 0.021 BTC Transfer to Bitstamp

Jul 22, 2024, 06:33 AM

Mt. Gox, the defunct cryptocurrency exchange, has initiated the repayment process to its creditors, with a recent Reddit poll indicating that 56% of surveyed creditors intend to keep all of their recouped Bitcoin. The repayment process involves the distribution of $5.8 billion worth of Bitcoin to creditors. Recent transactions include a small test transfer of 0.021 BTC to Bitstamp, suggesting preparations for larger repayments. Mt. Gox currently holds 90,344 BTC, valued at approximately $6.11 billion. The repayment process, which has been a decade in the making, is expected to have significant implications for the cryptocurrency market.