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Victims of the Mt. Gox can now get some of their money back

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 Victims of the Mt. Gox cryptocurrency trading can now get some of their money back

In a new development, the creditors of the Mt. Gox claims up to 90% of Bitcoin remaining from Mt. Gox, according to a new report from Bloomberg.

As a reminder, the “Mt. Gox ”is the largest Japanese hack in the history of the crypto market.

The impact of the hack brought the platform to bankruptcy in 2014.

Returning the funds to the platform's creditors is the current issue, and it appears that there is a preliminary agreement between the investment group “MGIFLP” and Mr. “Nobuaki Kobayashi” bankruptcy trustee of the platform “Mt. Gox ”.

CoinLab announced the settlement, although it was not a party to it.

For information, “CoinLab” is an incubator for crypto businesses and projects, previously partnering with “Mt. Gox ”.

CoinLab previously sued Mt. Gox ”for breaching the latter's partnership contract in 2013, before bankruptcy.

Customers and investors have been scrambling to recoup their losses since Mt. Gox went bankrupt in 2014, after a hacker stole roughly 850,000 Bitcoins.

The aforementioned source mentioned that creditors will now be able to claim up to 90% of their funds from the remaining Bitcoins listed in bankruptcy.

It is unclear exactly how much is left, or how creditors' claims will be priced.

In the past, the claimed bitcoin price was valued in 2014 at around $ 483 per coin.

But the price of Bitcoin is currently over $ 35,000.

The plan, as mentioned, was agreed upon between "MGIFLP" and "Kobayashi", but it needs creditors' approval before the money begins to flow.

Creditors could reject the proposal, and several other lawsuits against Mt. Gox settled.
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