Mt. Gox’s bankruptcy may finally soon be a thing of the past, with repayments from former customers beginning.
The year 2023 is more lenient for cryptocurrencies than the previous year. In recent months, we have seen Bitcoin resume its rise, with a price that exceeded $40,000 at the beginning of December. Another sign of the improving climate, customers of Mt. Gox, the cryptocurrency platform that went bankrupt a decade ago, will be able to receive a refund of their assets.
Reimbursements have started
Long before Binance, when Bitcoin was just beginning to interest beyond the handful of insiders who followed the creation of Satoshi Nakamoto, there was an essential platform: Mt. Gox. An exchange run by the Frenchman Mark Karpelès, which represented in 2014, at the time of its bankruptcy, simply 70% of bitcoin transactions.
Since then, the platform’s customers have had to be patient, until the announcement of judicial liquidation proceedings in Japan, where the company had its headquarters. Subsequently, on November 23, Mt. Gox announced that reimbursements would finally begin. And if we are to believe several testimonies on Reddit and Telegram, the first transfers have already been made.
Errors in payments
Those who wish to be reimbursed in so-called “fiat” currency, i.e. national currencies, will quickly benefit from a money transfer via Paypal. Those who, on the other hand, wish to be paid in bitcoins will have to wait until the first months of 2024 to see their portfolio swell. As a reminder, the bankruptcy of Mt. Gox resulted in the blocking of 140,000 bitcoins (or approximately 5.4 billion euros) at the time.
If the initiative obviously has something to please, it should be noted that it is not without clashes. Because still on Reddit, many users explained that they had been reimbursed twice. An error which, if it becomes widespread, could prevent many former customers from being reimbursed. A simple one-off problem, or the start of a new problem?
Source : Cryptoast
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