- Mt. Gox is still due customer refunds after its collapse over a decade ago
- The exchange moved over $19 billion worth of BTC, sparking curiosity about repayment
- Mt. Gox’s repayment plan was postponed to 2025, with recent transactions potentially related
One of the first-ever major crypto exchanges to go extinct, Mt. Gox is still due customer refunds after its collapse over a decade ago.
Recent reports show that the company’s wallet moved a significant amount of BTC on this date, sparking curiosity regarding whether these funds are on the move to repay investors or not. In total, over $19 billion dollars worth of BTC was distributed to two different wallets, adding up to past transactions that happened earlier.
The exchange collapsed in 2014 after an alleged security breach stole over 850,000 BTC. Shortly after Mt. Gox filed for bankruptcy alleging that it would not be able to recover the stolen funds and repay investors.
Mt. Gox Repayment Plan Schedule
At the time the firm was the largest Bitcoin exchange in the world, responsible for over 70% of all BTC transactions. At that time Bitcoin fell by nearly 50% in value throughout the month of February, reaching below $350.00 The scrutiny received from that occasion led Governments to vastly increase regulatory measures on digital assets brokers.
Mt. Gox’s repayment plan was initially scheduled for October 2023. It was later postponed to October 2024, and the exchange recently postponed it again to a year later in 2025. No one knows if the moved funds are related to the repayment plans, but if the exchange is keen on honoring these commitments, the recent $19 billion transaction could have something to do with it.
The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more
