Monday, August 15

MT.Gox: Victims of the biggest bitcoin broker hack in history will receive money back


The Mt. Gox case was one of the most notorious cryptomarket hacks, being one of the first major crises faced by the community. The case, which was also accused of being an exit scam, left a billion dollar loss for thousands of investors and has been investigated for over 7 years.

Fortunately for those who lost money in the situation, the repayment plan for creditors has been approved and now victims will finally start getting their money back.

Mt. Gox’s creditors will receive a total of $9 billion in cryptocurrencies and fiat currencies as compensation for losses taken during the brokerage’s collapse. The start of the Rehabilitation Plan was also officially announced by Mt. Gox itself.

Mt.Gox

WizSec, one of the security groups investigating Mt.Gox explained that the rehab payment offers creditors the option of receiving upfront payments at a flat rate of 21%.

“The 21% rate is calculated by the administrator to be a realistic estimate of the true final payout. At the best estimate, the final payment, if nothing goes wrong, will be somewhere around 23.6%. Initial payments include both BTC/BCH fiat currencies.”

O administrador da Mt. Gox Nobuaki Kobayashi, according to a report by Mt. Gox itself, claimed to have a total of 141,688 Bitcoins, 142,846 Bitcoin Cash and an additional cash. All of these assets combined represent the $9 billion that will be used to pay off debt with creditors.

victims

It is worth mentioning that this initial payment represents only 90% of what someone who stays in the process longer can realistically receive. In other words, whoever accepts this agreement at the moment will receive only 21% of what they invested, which is a great loss, but in the end, it is still the best possible option, since the alternative would be to receive absolutely nothing.

It is undoubtedly a small victory for the many Mt.Gox creditors who nearly a decade ago seemed to have no hope of getting back the money they had invested.

However, the rest of the almost 80% of the value that will not be returned remains a great mystery.

The official story by Mt. Gox is that a hacker has wiped out all the money, but there are still many who believe that everything hasn’t come to a blow and that the money somehow rests with the administrators, founders, and big names on the inside. of the most infamous cryptocurrency brokerage in history.





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