Tag Archives: mt gox

The largest creditors of bankrupt cryptocurrency exchange Mt. Gox have chosen a payment option that will allow them to receive a lump sum of their recovery payout in bitcoins rather than fiat. The creditors, now-defunct crypto exchange Bitcoinica and Mt Gox Investment Fund (MGIF), collectively represent about one-fifth of the bankruptcy claims. Gox Biggest Creditors Choose Bitcoin Payment Both entities have opted to receive up to 90% of their claims in BTC during the early...

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It’s happened again, folks. Another crypto hack has been recorded to the digital currency books. This time, the alleged victim is Bit Keep, a virtual wallet provider, and more than $8 million in crypto funds have gone missing. Bit Keep Compromised; A Lot of Money Missing To be fair, this is a small number compared to the many digital currency hacks and scams that have occurred in the past, but it’s another clear reminder that the space is not where it needs to be, and...

Creditors of the defunct cryptocurrency exchange Mt. Gox have received more time to select and register how they wish to receive compensation from the company. According to a document from the exchange’s trustee Nobuaki Kobayashi, the registration deadline, which was previously set as January 10, 2023, has been extended to March 10 (Japan time) after receiving approval from the court. “The deadline for the Selection and Registration was January 10, 2023 (Japan time) but...

FTX caused a lot of nasty spillage and other problems in late 2022. Here we are in 2023, and unfortunately, the final remnants of what will likely be labeled a huge bad actor and very poor player in the crypto economy continues to wreak havoc on the space and on customers. FTX Customers May Not Get Their Funds Back It has been suggested by many analysts and traders that the company’s users will not get their money back. That’s right… Whatever funds they lost due to the...

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Mt. Gox creditors could be one step closer to reclaiming their funds after nearly a decade of waiting. This is as the Rehabilitation Trustee has released a deadline for them to select their preferred repayment method. Nobuaki Kobayashi, the man in charge of the Mt. Gox rehabilitation process, published a new update for creditors on Thursday (October 6, 2022). In it, creditors were told that they had until January 10, 2023, to choose a payment option and register payee...

Kraken – a popular cryptocurrency exchange founded in 2011 by Jesse Powell – has recently offered its books to auditors to show them the company has heavy reserves of BTC, ETH, and Tether on file. Kraken Has Tried to Do a Lot of Good Kraken was founded in San Francisco, CA, which appears to be the ultimate hosting grounds for many crypto businesses considering this is long where Coinbase was stationed before deciding it was going to operate on a fully remote business...

Eric Wall, a creditor of Mt. Gox, confirmed that new reports swirling that 137,000 BTC sent to creditors would soon be dumped on the market are false. In a recent Twitter thread, Wall said the repayment system is not live yet. While addressing the rumors floating around across social media channels, the former CIO at Oslo-based crypto investment firm Arcane Assets said the payouts will also occur in tranches over months instead of offloading thousands of BTC all at once,...

2022 has been a rough year thus for crypto investors in the sense that bitcoin and many of its altcoin cousins have had a hard time keeping their prices stable. However, the year has also been difficult because thieves have become so prominent in the space. At the time of writing, it appears crypto thieves have stolen more than $1.2 billion in crypto funds in 2022, and we’re not even at the halfway point. Why Are Thieves So Prominent in the Crypto Industry? Mitchell...