Mt.Gox, a defunct cryptocurrency exchange platform, was exploited in 2014.
Mt.Gox announces repayment of Bitcoin and Bitcoin Cash to creditors in July 2024. The defunct crypto exchange owes $9 billion in crypto assets lost in the 2014 security breach. Bitcoin slipped below $62,000, wiping out nearly 3.5% value on Monday. The exchange’s users lost nearly $9 billion in cryptocurrencies. An email circulating on X is associated with the defunct exchange, the exchange is set to begin returning creditor funds in July 2024, per a Bloomberg report.
This puts things in perspective for users who lost their Bitcoin in the hack. Following is the email that the exchange sent to users, per news aggregator Tree of Alpha’s tweet on X: Mt.Gox email Should creditors expect a delay? The crypto analyst behind the handle @MichaelXBT notes that Mt.Gox has made similar assurances and announcements in the past. According to the analyst, there is almost always a delay and there are chances that the payback gets postponed yet again.
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