Following Kraken’s Mt. Gox distribution, Bitstamp has announced readiness to reimburse creditors of the defunct Bitcoin exchange.

Crypto exchange Bitstamp confirmed receiving Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) from the Mt. Gox Trustee aimed to make hack victims whole again. Bitstamp informed users that disbursements could start on Thursday, July 25. The platform indicated a separate distribution plan exists for U.K. residents, although the amount sent by Mt. Gox was undisclosed.

For UK residents, there will be a separate distribution plan. Rest assured, we’ll keep you updated on the process and ensure you receive your assets as soon as possible.

— Bitstamp (@Bitstamp) July 24, 2024

On July 23, four Bitcoin transactions from the defunct crypto exchange were highlighted. At least two transfers went to Bitstamp wallets. Data showed movements of 2,237 BTC worth $147 million and 382 BTC valued at $25 million to the crypto exchange.

Mt. Gox’s Trustee also sent 32,371 Bitcoin or $2.13 billion to an unlabeled wallet around the same time as Bitstamp transactions. Kraken has already settled customer repayments from the bankrupt platform.

Bitstamp’s statement reminded observers of the scope of Mt. Gox repayments. Following six hacks between 2011 and 2014, around 20,000 users are owed $9 billion in Bitcoin and other cryptocurrencies. The hackers were never identified, marking a significant moment in Bitcoin’s history.

Bitcoin traded 1% down after the Bitstamp announcement.

Stay updated with the latest cryptocurrency news on Global Crypto News.

Post Views: 4