Gox, once the world’s largest Bitcoin (BTC) exchange, is now preparing to start repaying its creditors after a decade of waiting.
The trustee for the rehabilitation announced that the distribution of owed Bitcoins and Bitcoin Cash (BCH) will begin in July 2024, which is a significant step towards resolving the issues of thousands of affected users.
According to the information, the payments will be made “in a timely manner” to the exchanges that have taken the necessary steps and confirmed the required information.
The process will be gradual, with payments prioritized based on the readiness of the respective crypto exchanges.
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The company owes investors approximately 127,000 BTC, with a total value of $9.4 billion. The exchange’s collapse was due to multiple hacking attacks over several years, resulting in the loss of over 850,000 BTC.
Despite the trustee’s announcement, the payment process may still encounter additional delays.
