The largest hacked cryptocurrency exchange will return 0.676% of all bitcoins in the world to investors this year

The cryptocurrency exchange Mt. Gox plans to pay off its debts to creditors in 2023−2024. The information was published in The Block with reference to journalist Colin Wu.

According to an email sent by the exchange to some affected customers, the trading platform plans to start paying out by the end of this year. However, according to the company, due to the large number of creditors and a number of nuances, payments may be delayed until 2024.

Mt. Gox plans to distribute funds in the amount of 142,000 BTC, 143,000 Bitcoin Cash (BCH), and 69 billion Japanese yen (JPY). In September of this year, Mt. Gox postponed the deadline for payments to customers affected by its bankruptcy for another year, until October 31, 2024.

According to the plan of Mt. Gox asset manager Nobuyaki Kobayashi, creditors can receive an early lump sum payment of 90% of the desired amount. Another option involves waiting for the bankruptcy process to end with the hope of receiving full compensation. Two of the site’s largest creditors have opted to receive most of their compensation in BTC rather than fiat currency.

Mt. Gox was one of the world’s largest cryptocurrency exchanges, operating from 2010 until it declared bankruptcy in 2014 after a series of hacks. At its peak, Mt. Gox accounted for about 70% of total bitcoin trading volume. In the 2014 hack, 850,000 bitcoins were stolen from Mt. Gox, 850,000 BTC were stolen, which is worth $ 17.8 billion at the current exchange rate.