Bitstamp Makes Mt Gox Credited Assets Fully Accessible, UK Customers to Have Separate Distribution Plan
Cryptocurrency exchange Bitstamp announced via the social media platform X that the assets credited to creditors of the Mt. Gox Bitcoin exchange on Bitstamp are now fully accessible following the completion of security checks.
The repayments began on July 25 for the 20,000 former users of Mt. Gox who are slated to receive their funds in Bitcoin (BTC) and Bitcoin Cash (BCH).
For our customers in the UK, a separate distribution plan will be in place. We'll keep you informed as soon as we receive more information from the Mt. Gox Trustee.
— Bitstamp (@Bitstamp) July 26, 2024
Creditors who selected Bitstamp as their exchange will have their restored assets delivered to their Bitstamp accounts.
Pending necessary security checks , recipients are expected to gain full control of their assets within a week.
Many recipients are expected to realize notable gains, as Bitcoin was valued at around $600 at the time of the Mt. Gox collapse. Currently, Bitcoin is trading at $68,787, reflecting a 1.7% increase over the past 24 hours, according to CoinMarketCap data.
Jean-Baptiste Graftieaux, global CEO of Bitstamp, highlighted the significance of the repayments, stating,
“We’re proud to play our part in making the Mt Gox investors whole. It’s a testament to Bitcoin’s value as an asset that, although the Mt Gox investors should never have been unable to access their tokens, many will make a serious profit.”
However, Bitstamp users in the United Kingdom will have to wait a few more months before receiving their assets.
The announcement stated,
“While UK customers will not be included in the first tranche of distributions, UK customers can expect to receive their restored assets within the next few months and will receive more
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