Mt. Gox Creditors Can Claim 90% of Bitcoin Left in Bankruptcy: Bloomberg

The agreement is subject to creditor acceptance.

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Jan 15, 2021 at 7:08 p.m. UTCUpdated Jan 15, 2021 at 7:35 p.m. UTC

Mt. Gox Creditors Can Claim 90% of Bitcoin Left in Bankruptcy: Bloomberg

Creditors of the bankrupt cryptocurrency exchange Mt. Gox will be presented with the option to claim up to 90% of the exchange’s remaining bitcoin, according to Bloomberg.

The deal between Mt. Gox’s bankruptcy trustee and MGIFLP will be presented to creditors for a simple up-down vote, Bloomberg reported.
Japan-based Mt. Gox was a major early bitcoin exchange that filed for bankruptcy in 2014 after admitting it had lost 850,000 total bitcoins, 750,000 of which belonged to its customers.
Creditors have been fighting for some form of reimbursement through 7 years of legal standoffs.
It was not clear at press time how many bitcoins are left for creditors to claim.
Should a significant portion of those “lost” bitcoin come on the market, it could have a significant effect on the supply of the leading cryptocurrency and therefore its price.
Bloomberg reported that CoinLab is not party to the settlement.

Mt. Gox Creditors Can Claim 90% of Bitcoin Left in Bankruptcy: Bloomberg

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