Almost ten years after the Mt. Gox cryptocurrency exchange was compromised, it seems that consumers who lost 850,000 bitcoin (BTC), which is currently worth about $36 billion, are beginning to receive their money back.
A few users in the mtgoxinsolvency subreddit claimed to have gotten payouts via Paypal in yen. Others who had opted to get payments directly into their bank accounts reported not seeing any inflows of money.
At the time of its 2014 hack, the exchange, which was founded in 2010, was the largest in the world. About 20 percent of the money that had been stolen was eventually recovered. It prolonged the payback period earlier this year, to October 2024, by a full year.
Due to the sheer number of tokens being released, the repayment may have some effect on bitcoin prices, but it won’t cause the market to become unstable, according to a report earlier this year from UBS.