Mt. Gox, a Japanese bitcoin exchange that went bankrupt a decade ago following a major hack, is finally set to repay its creditors. These creditors are in for a significant payday, as the company will start distributing about $9 billion worth of bitcoin, rewarding them for their patience over the years.
In 2011, Mt. Gox lost up to 950,000 bitcoins in a hack, a significant amount considering bitcoin’s value was much lower back then. Around 140,000 of those bitcoins were later recovered. Today, these recovered bitcoins are worth approximately $9 billion, a massive increase from their original value.
According to a report by CNBC, one of the claimants is Gregory Greene from US, who filed a class action lawsuit against …
Read the full article at: https://www.businesstoday.in/tech-today/news/story/big-pay-day-for-select-crypto-investors-bankrupt-exchange-to-start-distributing-9-billion-in-bitcoin-payouts-435246-2024-07-01