The clients of the fallen crypto exchange, Mt. Gox, will begin receiving payments through Bitstamp starting Thursday, almost a decade after the hack that led to its closure.
Bitstamp announced on its website that funds in Bitcoin, Bitcoin Cash, and even Ethereum had been received from Mt. Gox‘s trustees.
Exclusion of British clients?
Bitstamp, the world’s oldest cryptocurrency exchange, today begins the process of returning digital assets recovered to Mt. Gox creditors.
British clients will not be included in this first series of distributions, according to Bitstamp‘s announcement. This move follows several reports from Mt. Gox creditors indicating they had started receiving assets via Kraken.
The trust managing Mt. Gox‘s assets has started sending funds to several crypto exchanges this month, allowing users to reclaim their funds in the upcoming weeks.
History and market impact
Mt. Gox was once the largest crypto exchange platform in the world, handling over 70% of all bitcoin transactions in its early days. The ongoing distribution of $9 billion worth of assets, mainly in BTC and BCH, has weighed on the cryptocurrency market.
Investors feared that creditors might sell the recovered assets, realizing profits accumulated over a decade of price increases, and flood the market.
