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Lawyers Of Mt. Gox Investors To File Claim For Bitcoin Repayment

Published: 03/08/2018
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What is it for?

Investors of Mt. Gox, a bankrupt crypto exchange, began to prepare a claim for the return of bitcoins in accordance with the June court's order.

 

In November last year, the lawyers who represented the interests of some Mt. Gox investors, filed an application with the Tokyo court to refer the bankruptcy case to the process of civil rehabilitation. At that time, the bitcoin’s price reached $20,000.

 

The court took the side of the plaintiffs and decided to review the case. A week after this, the lawyers made a new proposal, they stated that it would be advisable to pay investors a compensation not with fiat money, but in cryptocurrencies which they bought, including bitcoins. Preferably, the funds should be directed to those trading platforms in which the victims have accounts, or to the crypto exchanges on which it is easy to open an account.

 

Most assets, including 166,000 bitcoins and other cryptocurrencies, are held by Mt. Gox on its accounts, therefore, they should be returned to investors within the first tranche, the defense representatives claimed. The total amount can reach $1.3 billion. The first payments are scheduled to be returned in May — June 2019, if nothing changes in the process of civil rehabilitation.

 

As previously reported, hacker attacks brought scammers $2.3 billion since 2011. In addition, the federal court of New York ordered crypto scammers to pay $2 million. 

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