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Bitten Mt. Gox Users May Get Bitcoins Back – Exchange Crashed Last Year After Hackers Stole 850,000 Bitcoins
Those who were bitten by the Mt. Gox collapse now have an avenue to — possibly — get some of their cash back.
Once the largest bitcoin exchange on the globe, the Japan-based company went under last year when it was revealed more than $400 million worth of bitcoins had been stolen by hackers. The announcement created havoc for the service and its customers after Mt. Gox filed for bankruptcy and protection was sought. Any person who had left their bitcoins in the trust of the exchange was out of luck.
However, a notice was posted on the Mt. Gox site Wednesday explaining “it is planned that the bankruptcy trustee will make bitcoin bankruptcy distributions via Kraken’s system, and therefore it is anticipated that bankruptcy creditors who are not Kraken users will not be able to receive bitcoin distributions.
“Therefore, users who wish to receive bitcoin distributions would have to become Kraken users in order to receive bitcoin distributions.”
As reported by CNet, Mt. Gox bankruptcy trustee Nobuaki Kobayashi is enlisting the help of the Kraken exchange to facilitate any distributions involving creditors. Kraken is expected to offer a claims page where people can submit their claim and, if their claim is a success, have their owed bitcoins placed in their Kraken account.
It was February 2014 when Mt. Gox stopped all transactions.
Post from: SiteProNews: Webmaster News & Resources
Bitten Mt. Gox Users May Get Bitcoins Back
W. Brice McVicar is a staff writer for SiteProNews.
The post Bitten Mt. Gox Users May Get Bitcoins Back appeared first on SiteProNews.
Source: http://www.sitepronews.com/2015/04/23/bitten-mt-gox-users-may-get-bitcoins-back/
