From Investing.com: 2024-06-24 09:00:35

Mt. Gox trustees are starting repayments for investors, redistributing BTC and BCH locked since the 2011 hack. The Mt. Gox exchange lost 700,000 BTC in the hack, shutting down and facing legal hurdles in repaying investors. Repayments beginning signifies a significant turning point, potentially impacting the market with selling pressure on Bitcoin.

Bitcoin and Bitcoin Cash returns for investors in final stages, with repayments starting in July 2024. The trustee ensures repayments will be in accordance with the Rehabilitation Plan, carried out in collaboration with cryptocurrency exchanges for secure transactions. Technological solutions and regulatory compliance are priorities to guarantee safe repayments.

Mt. Gox trustee Nobuaki Kobayashi emphasizes the meticulous work done to ensure safe and reliable repayments. Collaboration with cryptocurrency exchanges and adherence to financial laws are crucial for secure transactions. The repayment schedule set for early July 2024 will involve exchanges for verification and data exchange prior to funds release.

Read more at Investing.com: More Than 140,000 BTC From Mt.Gox Hack to Be Repaid: Market Effect By U.Today