Mt. Gox appears to have started repaying the 2014 Bitcoin hack via PayPal | CoinDesk JAPAN

Almost 10 years have passed since the failed crypto asset (virtual currency) exchange Mt. Gox was hacked, and its current value is approximately 36 billion dollars (approximately 5.4 trillion yen, equivalent to 140 yen to the dollar) ) It appears that they have started repaying customers who lost a considerable amount of 850,000 BTC.

Some participants in the subreddit group mtgoxinsolvency said they received payments in Japanese yen via PayPal. Meanwhile, those who chose to receive cash in their bank accounts said they had not yet received the money.

Mt Gox was founded in 2010 and was the world’s largest when it was hacked in 2014. In the end, they were able to recover about 20% of the stolen funds. Earlier this year, the repayment deadline was extended by 12 months to October 2024.

Swiss financial giant UBS said in a report issued earlier this year that the repayments could have some impact on the price of Bitcoin due to the huge amount of Bitcoin being released, but it would not cause market volatility. He pointed out that there was no way to stabilize the situation.

｜Translation and editing: Rinan Hayashi
｜Image: CoinDesk
｜Original text: Mt. Gox Appears to Have Started PayPal Repayments Tied to 2014 Bitcoin Hack