Creditors of bankrupt cryptocurrency exchange Mt.Gox have finally received payments in bitcoin (BTC) and Bitcoin Cash (BCH).
Kraken CEO Dave Ripley announced Tuesday that his exchange has successfully distributed #BTC and #BCH from the Mt. Gox estate.
It's been nearly a decade since Kraken was appointed receiver to help investigate and recover customer funds. It has been our privilege and responsibility.
While frivolous litigation prevented payments from being made sooner, we are extremely grateful to the trustee for keeping the coins safe all this time and returning most of the BTC. The preservation of value has been exemplary and is greatly appreciated by all creditors.
Mt. Gox once accounted for over 70% of #bitcoin trading volume, but it went bankrupt in 2014 after its platform was hacked.
The exchange eventually entered a lengthy bankruptcy process in which it returned most of its coins and paid out money to former customers, creating uncertainty in the #cryptocurrency market due to potential selling pressure.
At the time of writing, BTC was trading at $66,363. This crypto asset, which ranks first in terms of market capitalization, has fallen in price by less than 1% over the past 24 hours.
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