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Mt. Gox Creditors Get New Avenue for Recovering Bitcoin Losses

  • Tokyo court moves exchange to civil rehabilation proceedings
  • Creditors may begin to receive tokens after refiling claims
Tibanne CEO Mark Karpeles At Mt.Gox Bitcoin Exchange And Bitcoin Images
Photographer: Tomohiro Ohsumi/Bloomberg
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Things may be looking up for creditors of Mt. Gox, once the world’s biggest Bitcoin exchange that ultimately went down in flames after saying thousands of Bitcoins had disappeared.

The Tokyo District Court on Friday approved the start of civil rehabilitation proceedings, meaning the bankruptcy process that’s been underway since 2014 will be put on hold, according to a document posted on mtgox.com. This may mean traders will finally get their Bitcoins back.