Users of the hacked cryptocurrency exchange Mt. Gox have received a positive update regarding compensation for their stolen funds. The Mt. Gox trustee has provided an update on the repayment data, giving hope to creditors that cryptocurrency repayments will be made soon.
Several Mt. Gox creditors have reported that their claims accounts have been updated with information about Bitcoin (BTC), Bitcoin Cash (BCH), and fiat repayment. Many believe that this indicates that cryptocurrency repayments are imminent.
Reports first started emerging on the Mt. Gox insolvency subreddit in mid-April, with users noticing additions to the repayment data table on their accounts.
A screenshot shared by one creditor shows a table on the Mt. Gox claims accounts that displays the repayment status, completed repayment amounts, and incomplete repayment amounts.
According to posts on the Mt. Gox insolvency hub on Reddit, some creditors have already received fiat currency in their bank accounts. One creditor stated that they received money in USD in their HSBC currency account, with zero fees. This payment came more than a month after the first table update on their claims account. The Redditor mentioned that the table was updated on March 15, April 8, and April 18 when BTC lines appeared.
A Mt. Gox creditor told Cointelegraph that the addition of Bitcoin to the accounts in the Mt. Gox rehabilitation claims system is a significant development, signaling that disbursement of crypto or fiat will soon take place.
The creditor compared this update to the situation in December, when Japanese claimants received notes on their page, and within two weeks, they saw fiat in their accounts via PayPal and private banks. They hope that the crypto remittance will follow a similar timeline.
Mt. Gox, which was once the largest Bitcoin exchange globally, suffered a security breach in 2014, resulting in the loss of 850,000 BTC. The exchange is expected to repay its creditors 142,000 Bitcoin and 143,000 Bitcoin Cash, along with 69 billion Japanese yen ($510 million) by October 2024.
The recent updates to the repayment data table followed the completion of identity verification for Mt. Gox creditors and their crypto exchange accounts. These accounts will be used to repay Bitcoin and Bitcoin Cash. Some of the available platforms for repayment include Bitstamp, Kraken, Bitbank, BitGo, and SBI VC Trade.