Dear friends, good news is finally here! The Mt. Gox incident that has dragged on for ten years is going to be repaid! This is a plot twist that is more anticipated than a Marvel movie.
Mt. Gox trustee to begin repayments in July
Finally, the trustee of Mt. Gox will begin to repay Bitcoin (BTC) and Bitcoin Cash (BCH) in July. This is big news that countless cryptocurrency enthusiasts have been eagerly waiting for! After a long wait of ten years, July may really bring compensation to Mt. Gox users.
Event Review: Mt. Gox Collapse
Let’s go back to 2014. Mt. Gox, the most popular cryptocurrency exchange at the time, controlled more than 70% of transactions in the blockchain ecosystem. However, this “cryptocurrency overlord” collapsed due to a security vulnerability, and users lost more than 850,000 BTC, which is a huge sum of money worth more than US$51.9 billion!
Historical review: BTC price "roller coaster"
Mt. Gox collapsed in February 2014, and the price of Bitcoin fell to a low of $420. It was like a roller coaster ride! It is said that Mt. Gox was hacked six times between 2011 and 2014. It was really a disaster.
Compensation is about to start, but there are still variables in the future
Although the trustee of Mt. Gox announced the repayment, don’t open the champagne to celebrate. After all, the repayment deadline previously scheduled for September 2023 has been delayed to October 31, so it remains a mystery whether the repayment can be made on schedule this time.
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