The now dissolved cryptocurrency exchange Gox has commenced debt repayments by dispatching Bitcoin (BTC) and Bitcoin Cash (BCH).
According to information provided by the company:
On May 5, 2024, the rehabilitation trustee began disbursing Bitcoin Cash to selected rehabilitation creditors through designated cryptocurrency exchanges, in accordance with the rehabilitation plan.
Other creditors will receive their payments “forthwith,” subject to meeting several conditions.
These conditions include verifying account validity and obtaining creditors’ consent to participate in agreements to receive proxies through certain cryptocurrency exchanges.
Read more:
After transferring $5.4 billion worth of BTC, Mt. Gox caused Bitcoin prices to plummet below $2.7.
Additionally, to ensure secure and reliable repayments, the repayment trustee and exchanges will discuss the repayment procedures.
