Mt. Gox, once the world’s largest Bitcoin (BTC) exchange, is finally preparing to make payments to its creditors after a decade of waiting.
The trustee in charge of the rehabilitation process has announced that the distribution of funds in Bitcoin and Bitcoin Cash (BCH) will begin in February 2024, marking a crucial step in resolving the issues faced by thousands of affected users.
It is understood that the payments will be made through exchanges that have taken necessary steps and confirmed the required information in a timely manner.
The process will be gradual, and the priority of payments will depend on the readiness of the corresponding cryptocurrency exchanges.
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The company owes investors approximately 127,000 bitcoins, with a total value of $940 million. The collapse of the exchange was due to multiple hacking attacks over the years, resulting in the loss of over 850,000 BTC.
Despite the announcement by the recipient, the payment process may still face further delays.
