Collapsed bitcoin exchange Mt. Gox is about to unload $9 billion of coins onto the market. Hereโs what it means.
In a few days, bankrupt Tokyo-based bitcoin exchange, Mt. Gox, will begin paying back thousands of users roughly $9 billion worth of tokens.
The payout comes more than 10 years after the platform went under following a series of heists that cost the exchange up to 950,000 bitcoin.
While this is good news for victims of the hack who have spent years waiting to be made whole, the price of bitcoin slid to $59,000 in the crypto marketโs second-worst weekly decline of the year.
In a few days, bankrupt Tokyo-based bitcoin exchange, Mt. Gox, will begin paying back thousands of users roughly $9 billion worth of tokens.
The payout comes more than 10 years after the platform went under following a series of heists that cost the exchange up to 950,000 bitcoin.
While this is good news for victims of the hack who have spent years waiting to be made whole, the price of bitcoin slid to $59,000 in the crypto marketโs second-worst weekly decline of the year.
