Tag: creditors


Mt. Gox, the defunct Bitcoin exchange, will pay creditors $9 billion, bringing a six-year-old chapter to a close.

Mt. Gox, a Bitcoin exchange based in Tokyo, Japan, met an untimely end in 2014 when it was hacked and lost 850,000 Bitcoin tokens. Customers who lost money on Mt. Gox have been hammering the bankrupt firm with legal letters and complaints since it stated that it will repay $9 billion (approximately Rs. 67,531 crores) to them. The stolen Bitcoins were valued at about $500 million (roughly Rs. 3,751 crores) at the time of the theft, a value that has since multiplied, with Bitcoin presently selling at $63,925 (nearly Rs. 48 lakh) per token.
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