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Mt.Gox clients received the first payments from funds that were locked in 2014
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Mt.Gox clients received the first payments from funds that were locked in 2014

Dec 27, 2023

Several Reddit users shared information that they received compensation for cryptocurrency assets that were frozen on the Mt.Gox exchange. The payments were made in Japanese yen, and the transfer of funds to users' accounts was carried out through the PayPal payment system.

These payments occurred almost ten years after Mt.Gox clients lost access to their assets on the exchange. They followed a month after the announcement by the trustee Nobuaki Kobayashi about the start of the debt repayment process by the temporary management of the crypto platform.

Although this news is a positive signal, the exact deadlines for completing the compensation procedures for debts to Mt.Gox clients are not yet determined. The complexity of the situation is exacerbated by the large number of creditors and the variety of ways to settle their claims. For example, the investment fund MtGox Investment Funds (MGIF) and the New Zealand cryptocurrency exchange Bitcoinica, whose claims account for about 20% of the total debt, decided to receive compensation in bitcoins.

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