Mt. Gox completes 67% of repayment to creditors, distributing $3.2 billion in Bitcoin

As of August 13, 2024, Mt. Gox has successfully completed 67.7% repayment to creditors, marking a significant repayment progress in the aftermath of one of the largest cryptocurrency exchange collapses in history.

According to Arkham Intelligence, a wallet linked to Mt. Gox transferred 33,105 BTC to Bitgo 2 days ago, valued at approximately $2.19 billion at the time. Before it was now reduced to $1.97 billion due to the price correction.

The ongoing repayment process has seen approximately $3.2 billion worth of Bitcoin distributed to creditors.

In total, Mt. Gox plans to repay 140,000 BTC to those affected by the exchange's collapse in 2014.

The repayments are being processed through designated cryptocurrency exchanges, including Kraken, Bitstamp, and Bitgo. These platforms are facilitating the distribution to ensure that creditors receive their funds securely and efficiently.

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