On August 21, 2024, MtGox continued its repayment plan, compensating over 19,000 creditors via Bitcoin and BCH on designated exchanges.
MtGox Continues Creditor Repayments
According to an official announcement, some of MtGox creditors were remunerated on August 21, 2024, following the court-approved compensation plan. The repayments were made in Bitcoin and Bitcoin Cash through particular cryptocurrency exchanges. Over 19,000 creditors have so far been paid out in Bitcoin and BCH. This marks the fourth round of repayments in July 2024 alone, and the exchange is eyeing finally closing its decade-long bankruptcy case.
Partial Fund Transfer via Bitstamp
MtGox moved 12,000 BTC to an unknown wallet, raising speculation about more payouts and related activities. Another 1,264.7 BTC was transferred to the Bitstamp exchange, one of the central partners in the repayment process. This step signifies significant progress for many creditors toward the complete resolution of the largest collapses in cryptocurrency history.
Future Creditor Payments
Many creditors still anticipate total compensation as the entire repayment process is expected to drag further into the future.
MtGox continues to make significant steps towards resolving its long-standing bankruptcy. However, the complete closure of this case is still awaited.
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