Mt. Gox exchange releases guideline for BTC repayment

Oct 08, 2022 | wjb news

Failed BTC Exchange Mt Gox has already released the procedure procedure for creditors to register their payment details, which is convenient for subsequent release. It has been determined that BTC has been in use for more than eight years.

Mount Gox, an exchange headquartered in Japan, lost more than 850000 BTC in the hacker invasion in 2011. Ten years later, in November 2021, the Exchange released a "repair plan" to return about 137000 BTC to investors.

As part of the reconstruction plan, Mt Gox announced on October 6 that it has enabled online claims settlement, allowing creditors to register their information and select loan repayment methods for the next fund allocation.

Mr. Gox added that if creditors failed to carry out the process of "optimization and registration" before the deadline of January 10, 2023, their assets would be seized.

Mr. Gox said that very important materials had been published, and creditors should carefully read various materials before completing the procedures. This document contains information about the operation of Gox Mountain Exchange, notices about the revision of the repair plan and the receipt of payment licenses, and a manual for selecting data encryption exchanges or trustees.

Barris Hill urged the creditors to confirm whether their names and detailed addresses were correct. The specific information given in the database system will be used for identity authentication before the loan is distributed for repayment. Creditors who have reason to upgrade detailed information can also upgrade before the deadline.

137000 BTC combination will be released

In 2011, when Mr When Gox was invaded by hackers, about 850000 BTCs were stolen. However, in 2014, the exchange reported seeing 200000 BTCs. Since then, creditors have been looking forward to receiving students' assets.

As of July 2022, CryptoSlate reported that About 137000 BTC can be put into the market on Gox's balance sheet.

Many data encryption analysts predict that the sale of 137000 Bitcoin may lead to increased sales pressure, which will drive the Bitcoin market below the price of 10000 dollars.