Mt. Gox Bitcoin Started Bitcoin Repayment
Finally, the day has arrived when Mount Gox has started paying Bitcoin after ten years and undoubtedly its great news for the people who lost the money ten years back. It was a big incident in the crypto market and because of this a lot of people have lost their hard-earned money but it's great news that finally Mount Gox has started the repayment which is certainly good news for all those who are part of it.
Ten years back the value was quite low for Bitcoin and now it is significant which means they must be happy however they were not happy for sure before but now after this announcement itself, they must be satisfied.
Ideally, I believe that this is how things should be because if exchanges behave like this when they ensure that funds are safe then the crypto users will also be able to trust exchanges. As of now, I'm not sure what amount they will be repaying but if they will be making the repayment based on the quantity then it is going to be great because ultimately users will be able to get the benefit of high price or you can say price appreciation.
Ten years later, Mt. Gox customers are about to be reunited with their Bitcoin. On June 24, the trustee responsible for managing the estate, veteran bankruptcy lawyer Nobuaki Kobayashi, announced that crypto repayments would begin to filter through from July onwards. On Friday, the coins began to move.
I'm happy to see that finally the money is coming back and this is the right approach and behaviour in any market where the user funds should always be treated as a priority. I'm sure that the people would have lost hope that they would ever get their money back but finally, it is happening. Now since the process has started so hopefully every user will get their Bitcoin back and the process might take some time but it's fine as long as they are going to benefit and get their money back after a decade.
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This is really great stuff from Mt. Gox am sure those who lost their asset then would be happy with this initiative.
Yea true'... They must be happy
This is such a great news. A lot of persons would have lost hope but thankfully, the refund is happening. This will increase people's faith in the exchanges.
It's a good news