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After a 10-Year Wait, Mt. Gox Bitcoin Is Finally Being Returned
Former customers of bankrupt crypto exchange Mt. Gox are preparing to be reunited with their lost bitcoin—and it's a $9bn windfall.
On June 24, the trustee responsible for managing the estate, veteran bankruptcy lawyer Nobuaki Kobayashi, announced that crypto repayments would begin to filter through from July onwards. To allow customers to benefit from the rise in the price of bitcoin, the bankruptcy was converted in 2018 into a civil rehabilitation, a framework under Japanese law that affords greater flexibility, but which required claims to be refiled. There is also a degree to which the arrival of large amounts of bitcoin in the wallets of customers, whose details have previously been leaked, threatens to make them a target for hacking and physical robbery.
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