Mt. Gox Commences Repayment After 2014 Bitcoin Heist Key Developments:- Mt. Gox, a former crypto exchange giant, is beginning to reimburse clients after a 2014 cyber attack led to a loss of 850,000 bitcoins, now worth an estimated $36 billion.
- Some users have confirmed receiving funds in yen via PayPal; others waiting for bank transfers are still pending.
Exchange History & Recovery Efforts:- Established in 2010, Mt. Gox was a leading exchange pre-breach.
- Successfully recovered about 20% of the stolen bitcoins.
- Repayment deadline extended to October 2024.
Market Outlook:- According to UBS analysts, these repayments may slightly affect Bitcoin prices but are not expected to cause market disruption.
@Cryptocurrency_Inside
