Mt. Gox Creditors Get Crypto Repayments After Decade of Waiting
- Kraken and Bitstamp exchanges have started to repay creditors
- Pending distribution had weighed on prices in recent weeks
The long-anticipated distribution of the billions in Bitcoin from what was once one of the largest crypto exchange has weighed on the digital-asset market for weeks.
Photographer: Kiyoshi Ota/Bloomberg
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Mt. Gox creditors are receiving a portion of the roughly $8 billion worth of cryptocurrency they’ve been owed since a hack drove the Tokyo-based exchange into bankruptcy a decade ago.
Kraken has distributed Bitcoin and Bitcoin Cash from the Mt. Gox estate, according to a post on the X social media platform from the San Francisco-based exchange’s chief executive. A Kraken spokesperson confirmed the distribution and declined to comment on the specific amount.