Mt. Gox’s repayment of customers who lost a combined 850,000 BTC – now valued at $33 billion – during its hack of 2014 appear to be progressing.
Some former customers of the crypto exchange have reported receiving an email asking for confirmation of identity and account details on the mtgoxinsolvency subreddit group.
Mt. Gox was launched in 2010 and was the world’s biggest crypto exchange at the time of the hack in 2014. It was ultimately able to recover around 20% of the stolen funds. In December, some customers reported receiving payouts in yen to their Paypal accounts.
The repayment could see some impact on BTC prices due to the sheer volume of coins being released, particularly should it coincide with acceleration of inflows to exchange-traded funds (ETFs) and the bitcoin halving in April.
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