2024-01-24 12:06:45
After the start of bank payouts in December 2023, Mt. Gox’s asset manager is preparing to start BTC and BCH payouts to Bitstamp and Kraken accounts.
The trustee of bankrupt cryptocurrency exchange Mt. Gox appears to be slowly getting around to paying out bitcoins. According to the latest reports, he contacted the creditors in order to identify them and confirm the existence of their accounts.
A number of Mt. Gox lenders have reported that Mt. Gox has confirmed via email the completion of verification of their identification information, which will be used for payments in bitcoin BTC Price and Bitcoin Cash.
In one such e-mail addressed to Mt. Gox’s bankruptcy situation subreddit published on January 22, they say that the crypto exchange mentioned in the user’s rehabilitation claim confirmed the ownership of the account to the asset manager. According to the email, it is expected that the exchange will soon accept the user’s request for repayment in BTC/BCH.
“Please note that you may not receive your refund in BTC/BCH if your account is banned or frozen in the future” says the email.
Several Reddit users have confirmed that they have received an email similar to this one from Mt. Gox’s asset manager, and most of these responses have come from the Bitstamp exchange. Some Kraken users also reported that they received the confirmation email, but most of them have not yet received the message.
The exchanges involved in the refunds have informed their users that they will continue to serve customers associated with Mt. Gox in certain countries, despite the exchange itself leaving those jurisdictions.
Cointelegraph has learned that Bitstamp ceased operations in Canada on January 4, 2024, but will continue to service local accounts that were involved in the Mt. Gox deal.
“We have decided to keep these specific accounts open until the funds due from Mt. Gox are fully returned to you” can be read in the e-mail. “Please note that your account is currently limited to withdrawal functions. Other services including deposits and trading are no longer available.”
The emails from Mt. Gox keep coming as the trustee moves forward with bank repayments. The first reports of Mt. Gox refunds appeared in late December 2023, when some lenders received double payouts.
Founded in 2010, Mt. Gox was the world’s largest Bitcoin exchange before its collapse, with an estimated 70% of BTC transactions taking place here. The exchange lost 850,000 BTC in a security incident in 2014, making it one of the most significant failures in the crypto world.
Mt. Gox is expected to return 142,000 Bitcoins, 143,000 Bitcoin Cash, and 69 billion Japanese yen ($510 million) to affected users by October 2024.
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