Wednesday, August 10

Victims of the millionaire bitcoin hack of Mt. Gox to receive compensation after 7 years


Key facts:
  • In a month the return of bitcoin funds will begin, if the compensation plan is approved.

  • Those affected by the theft must register on the Mt. Gox website to access compensation.

After 7 years of waiting, the victims of the millionaire hack at the Mt. Gox exchange are close to getting their money back. The trustee announced that those affected have approved the proposed compensation plan. Compensation for the theft of your bitcoin (BTC) funds involves the return of billions of US dollars (USD).

Victims could finally get back some of their stolen money within 30 days. The release launched by the Rehabilitation Trustee on October 20, 2021, maintains that in about a month it will announce the official compensation for the hack suffered by Mt. Gox.

The Rehabilitation Trustee wishes to express its sincere appreciation to all parties involved for their understanding and support.

Mt. Gox Hack Rehabilitation Trustee.

In the cyber attack, which was in February 2014, 850,000 bitcoins were stolen total of 24,000 users of the Mt. Gox exchange. Considering that bitcoin was worth $ 543 back then, the pool of stolen funds equaled $ 461 million. To this day, it remains the largest hack in the history of the crypto ecosystem.

After the increase that the cryptocurrency had during these years, now that amount represents USD 55 trillion, as revealed by the CriptoNoticias calculator. Right now, this cryptocurrency is worth around $ 65,000. The growth has been considerable, especially for the first bitcoiners of 2014.

The increase in the value of bitcoin since the Mt. Gox hack so far is over 12,000%. Source: coinmarketcap.com.

Victims of Mt. Gox bitcoin theft voted in favor of plan

On October 20, 2021, those affected by the theft met together with the Rehabilitation Trustee to announce the vote on the compensation plan. This meeting, which took place in the Tokyo Court, resulted in the almost total support of those involved for the compensation project.

The organization stated that 99% of the victims voted in favor of the rehabilitation plan, which includes the partial return of the stolen funds. As CriptoNoticias had reported in February this year, the Trustee granted the affected creditors the right to cast their vote on the repayment plan.

Following the positive verdict of those involved, the Trustee reported that those affected must register on the Mt. Gox rehabilitation page to receive reimbursement. Those who have not done so before the confirmation – which will be within a month – will not be able to access the refund.

It is worth clarifying that the victims named «Z2»Are not eligible at this stage. They are all the people who did not file claims for the stolen funds before 2019. They represent a minimal percentage of those affected, since 83% of the users who lost their bitcoin funds after the hack did file a complaint.



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