Crypto News

Refunds Begin for Mt. Gox Customers After years of uncertainty and legal battles, the infamous Mt. Gox exchange has announced that they will begin processing and refunding Bitcoin and Bitcoin Cash (BCH) to affected customers starting this week. This marks a major step in the long-awaited resolution of the exchange's collapse in 2014, which resulted in the loss of over 850,000 BTC. The Rise and Fall of Mt. Gox At one point, Mt. Gox was the largest Bitcoin exchange in the world, handling over 70% of all Bitcoin transactions. However, in February 2014, the exchange abruptly shut down, claiming that they had been hacked and lost nearly 750,000 of their customers' Bitcoins. This led to a long and complicated legal process, with the exchange eventually filing for bankruptcy. The Road to Refunds In 2018, a Japanese court approved a petition for the civil rehabilitation of Mt. Gox, which allowed the exchange to refund customers in their original Bitcoin holdings rather than i...