Mt. Gox Postponed Bitcoin Distributions!

0

Defunct Bitcoin exchange Mt. gox Creditors have until March 2023 to register their compensation and request a refund. With the last regulation, the distribution date was extended from July 31 to September 23.

The deadline for Selection and Registration was previously announced as January 10, 2023. Therefore, buyers who did not complete the said procedure by the deadline would not be able to receive their full refund.

Tokyo-based Mt. Gox was launched in 2010. At the beginning of 2014, the stock market was bitcoin accounted for about 70% of its transactions. However, due to the lack of security protocols, hackers managed to attack the network and steal the crypto assets of more than 24,000 customers. After this incident, the stock market filed for bankruptcy and ceased its operations.

Hackers reportedly stole 740,000 and 100,000 more BTC from the firm. The total amount was worth $460 million at the time.

There is also speculation as to what could be the reason for the last extension to pay the creditors.

Mt. Gox Assets Moved Recently

Mt. About 10,000 Bitcoins associated with Gox moved in November 2022, when there was great turmoil. As Koinfinans.com reported, the main wallet sent $167 million worth of BTC to two unknown wallets. While one of the wallets collected 3,500 BTC worth 58,36,8800, it soon sent 300 BTC to another wallet. This continued further and split among several other wallets.

CryptoQuant CEO pointed out that those who move these funds may be criminals. When Ki Young Ju asked why these hackers were moving money with $16,000 in Bitcoin and not during the bull run, he said:

They don’t care anyway. They have made 55 times profit so far. They bought the first assets in January 2015 and were $297…


source site-6