Mt. Gox hack victims are more hopeful than ever!! The process of repaying former customers of Mt. Gox, who collectively lost 850,000 BTC (now valued at $33 billion) during the infamous 2014 hack, seems to be advancing.
Some users on the mtgoxinsolvency subreddit group have reported receiving emails requesting confirmation of identity and account details.
According to the emails, recipients will be compensated in either bitcoin or bitcoin cash (BCH) to the account they had previously nominated with the cryptocurrency exchange. Mt. Gox, once the world’s largest crypto exchange, suffered a major hack in 2014, leading to the loss of a significant amount of Bitcoin. Despite the setback, the exchange managed to recover approximately 20% of the stolen funds.
In December, certain customers disclosed receiving payouts in yen to their PayPal accounts. The ongoing repayment process has the potential to impact BTC prices, considering the substantial volume of coins being released. This effect could be more pronounced if it coincides with increased inflows to exchange-traded funds (ETFs) and the scheduled bitcoin halving in April.
