Mt. Gox Bitcoin Billions Are Being Repaid—How We Got Here

Mt. Gox, the once-dominant Bitcoin exchange, has delayed its creditor repayment deadline by another year, leaving many who lost money in 2014 still waiting. The exchange, which handled up to 70% of global Bitcoin trades, lost 850,000 Bitcoin due to hacks and missteps, worth over $97 billion today. Despite some creditors receiving partial repayments, many are still waiting, and the process is complicated by technical and regulatory challenges. The rehabilitation trustee, Nobuaki Kobayashi, announced that billions in Bitcoin are being prepared for eventual repayment, but ensuring all legal and security requirements are met is taking longer than expected. The Mt. Gox payout story remains a significant drama in crypto, with implications for Bitcoin's price and reputation.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.