caueconomy
Mt. Gox delays bitcoin refunds for another year (again)đ¨
Originally scheduled for October 31, 2023, the new deadline has been extended to October 31, 2024. Japan-based Mt. Gox was once responsible for more than 70% of all Bitcoin trades. However, its reputation suffered a devastating blow after a major attack in 2011. The exchange eventually collapsed in 2014 amid allegations of insolvency, resulting in the loss of 850,000 BTC. The development left approximately 24,000 creditors, many of whom have been anxiously awaiting resolution of their claims for years. Mt. Gox's holdings currently hold approximately 138,000 Bitcoin (BTC), valued at approximately $3.7 billion at current prices, along with a similar amount of Bitcoin Cash (BCH) valued at $29 million, and 69 billion Japanese yen. ($46.5 million). As much as traders may have been worried at the beginning of this year, it is expected that these currencies will take longer to reach the market.