Key Points
- Bitstamp is set to reimburse creditors of the defunct Bitcoin exchange, Mt. Gox.
- Four Bitcoin transactions from Mt. Gox were highlighted, with two transfers going to Bitstamp wallets.
Bitstamp, a crypto exchange, has announced its readiness to compensate creditors of the now-defunct Bitcoin exchange, Mt. Gox.
The exchange confirmed receipt of Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) from the Mt. Gox Trustee, aiming to make victims of the hack whole again.
Bitstamp’s Announcement
Bitstamp has reportedly informed users that disbursements could commence as early as Thursday, July 25.
The platform also disclosed that a separate distribution plan is in place for U.K. residents, but the amount sent by Mt. Gox remains undisclosed.
Transactions from Mt. Gox
On July 23, Arkham highlighted four Bitcoin transactions from the defunct crypto exchange.
Data showed two transfers, amounting to 2,237 BTC worth $147 million and 382 BTC valued at $25 million, made to Bitstamp wallets.
Around the same time, Mt. Gox’s Trustee also sent 32,371 Bitcoin, equivalent to $2.13 billion, to an unlabeled wallet.
Kraken, another crypto exchange, has already settled customer repayments from the bankrupt platform.
Bitstamp’s announcement brought to light the extent of Mt. Gox repayments.
After six hacks between 2011 and 2014, approximately 20,000 users are owed $9 billion in Bitcoin and other cryptocurrencies.
The hackers remain unidentified, marking this event as a significant point in Bitcoin’s history.
Following the announcement by Bitstamp, Bitcoin traded 1% down.
