Uncertainty looms over Bitcoin as Mt. Gox prepares for final payout
moneycontrol.comFebruary 2014. The formidable, Tokyo-based crypto exchange of Mt. Gox, founded in 2010 and arguably the world’s biggest cryptocurrency platform at that point, handling more than 70 percent of all bitcoin transactions across the globe, was hacked. More than 8,50,000 BTC were stolen by hackers, of which around 7,50,000 or 80% of bitcoins belonged to customers.
And after 7 years of the exchange folding up, only some 2,00,000 BTC have been traced, and to an old wallet months after the company filed for bankruptcy.
Despite a Japanese court tasked with the mammoth job of compensating the aggrieved investors, the chance of any substantial monetary recovery being made by these early bitcoin investors and creditors looked slim. But that looks set to
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