Victims from crypto exchange Mt. Gox hacked could finally see compensation for their lost Bitcoin. Almost a decade after an attack forced the platform to shut down, users began a long litigation process which could be which could bear fruit in the next coming months. Related Reading | Bitcoin Funding Rates Are Climbing As Price Continues To Struggle In the crypto space, people have been following the case due to its potential implications for the Bitcoin market. In 2014, a bad actor managed to steal over 850,000 BTC, Mt. Gox managed to recover around 150,000 BTC which could soon enter the market and contribute to the current downside price action. At the time of writing, BTC’s price trades at $21,000 with a 4% profit in the last 24 hours. The cryptocurrency has experienced relief for the first time in weeks after sustained selling pressure pushed it to a yearly low of around $17,000. Market participants believe that the 150,000 BTC unlocked from Mt. Gox will put more stress on a market which seems ready for taking further losses. According to a document published by Mt. Gox’s rehabilitation trustee, the entity in charge of handling compensation, they are making preparations to begin repayments. This process was dictated and approved on November 15, 2021, by a Japanese court. In order to redeem the funds, the trustee has asked victims to provide the necessary information, such as names and addresses. People will be able to...
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