Business Insider
Hey folks.
After obtaining all of the money owed to them by the trustee, Bitstamp started paying back Mt. Gox's creditors.
On July 25, the cryptocurrency exchange began paying back creditors after receiving all of the Bitcoin, Bitcoin Cash, and Ether.
An notification shared with Cointelegraph states that the beneficiaries can anticipate having complete control over their money in around one week following the fulfillment of the appropriate security processes.
According to global CEO of Bitstamp, Jean-Baptiste Graftieaux, while the incident with MT. Gox shouldn't have happened, the price appreciation of Bitcoin since the incident is a testimony to the value of Bitcoin.
We’re proud to play our part in making the Mt Gox investors whole. It’s a testament to Bitcoin’s value as an asset that, although the Mt Gox investors should never have been unable to access their tokens, many will make a serious profit.
Approximately 127,000 creditors of MT. Gox have been waiting for over ten years to get their funds back which are over $9 billion worth of Bitcoin, threatening a notable Bitcoin sell pressure from the creditors.
Days after Mt. Gox carried out the first test transactions on the Bitstamp exchange, the announcement was made.
Although Bitstamp users in the UK would need to wait a few more months to eventually receive their assets, the announcement is encouraging for creditors of Mt. Gox.
According to Bitstamp's release, UK clients will receive information in "due course".
Other exchanges also reportedly are working on refunding creditors. Notably, CEO Dave Ripey of Kraken stated that the company completed paying back Mt. Gox creditors on July 24.
