MT. Gox has resurfaced in the headlines in recent weeks. The infamous Bitcoin exchange (also once the largest cryptocurrency exchange) had 850,000 bitcoins hacked in 2014 and has yet to compensate their victims. However, it's not over yet. A meeting between the exchange and creditors will take place next week this week.
Disaster Mt. Gox remains the biggest bitcoin hack in crypto market history
According to the official document released today, Mt.Gox creditors are taking further steps to expedite the claim process. The unfortunate victims of this transaction had to wait more than six years for a proper answer for their loss. Meanwhile, the BTC hack event of Mt. Gox remains the largest BTC hack event in market history.
Disaster Mt. Gox remains the biggest bitcoin hack in crypto market history
However, it remains uncertain whether the victims will accept the creditors' latest offer. Having said that, previous offers have been rejected many times. Accordingly, the initial offer of 755 USD/BTC was later reduced to 600 USD and increased to 1300 USD in the past month. This is the best offer ever made.
Right before the BTC hack event, the exchange's trading level was around $850/BTC. But over the past six years, the value of cryptocurrencies has increased dramatically. Will victims decide to reduce their losses instead of risking no compensation?
See more: The scams of virtual money shocked in early 2020
Creditors continue to hold another meeting
Today's brief announcement is simply the "Restoration Commissioner" of Mt. Gox has created a portal through which creditors can view documents from the meeting to be held tomorrow, March 25. (Accessed here)
Creditors will be notified of the password details so that they can access the website via email. Currently, a portion of available material is given regarding previous meetings. However:
The remaining documents will be uploaded as soon as they are prepared. Subscribe at primexbt news.
The compensation of victims from the BTC hack event of Mt Gox has been difficult. From the slowness of Japanese court proceedings to a misleading investigation into the financial situation of owner Mark Karpeles.
With the argument of this former CEO helped him avoid the consequences of the BTC hack event. Last week, he called on the US Court to drop the final charge against him. The case is still ongoing.
Do you think victims of Mt Gox will receive full compensation before the end of 2020? Let us know your thoughts below!
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