Bitstamp to distribute Mt. Gox Bitcoin by July 25

Following Kraken’s deployment of Mt. Gox, Bitstamp announced that it is prepared to compensate the creditors of the bankrupt Bitcoin exchange.

Cryptocurrency exchange Bitstamp has confirmed that it has received Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) from the Mt. Gox Trust. Aiming to reunite hack victims, Bitstamp reportedly informed users that payouts could begin on Thursday, July 25. The platform said it has a separate distribution plan for UK residents, but the amount sent by Mt. Gox was not disclosed.

There will be a separate distribution plan for UK residents. Don’t worry, we will keep you updated on the process and ensure you receive your assets as soon as possible.

— Bitstamp (@Bitstamp) July 24, 2024

On July 23, Arkham highlighted four Bitcoin transactions from the bankrupt crypto exchange. At least two transfers went to Bitstamp wallets. The data showed the movement of 2,237 BTC worth $147 million and 382 BTC worth $25 million to the crypto exchange.

Mt. Gox’s trustees also sent 32,371 Bitcoin, or $2.13 billion, to an unlabeled wallet around the same time as the Bitstamp transactions. Kraken has already settled customer refunds from the bankrupt platform.

Bitstamp’s statement reminded observers of the scope of the Mt. Gox paybacks, which owed about $9 billion worth of Bitcoin and other cryptocurrencies to nearly 20,000 users after six attacks between 2011 and 2014. The perpetrators were never identified, and it remains a watershed moment in Bitcoin history.

Bitcoin fell 1 percent following the Bistamp announcement.

24-hour BTC price on July 24 | Source: crypto.news