Mt. Gox, the cryptocurrency exchange that suffered a massive loss of 850,000 Bitcoin in 2014, is set to initiate repayments to its users. The rehabilitation trustee of Mt. Gox will commence processing repayments in Bitcoin (BTC) and Bitcoin Cash (BCH) starting July 2024. Over $9.4 billion worth of Bitcoin is owed to around 127,000 creditors who have been waiting for over a decade to recover their funds. The recent transfer of 141,686 BTC worth $9.62 billion into a new wallet signifies the first movement of funds from the collapsed exchange in years. Despite the trustee's announcement, there may be further delays in repayments beyond the current deadline of September 2023. Mt. Gox, once a major player in the crypto space, faced multiple hacks leading to its collapse in 2014, causing significant losses to its users. Read more AI-generated news on: https://app.chaingpt.org/news