Mt. Gox Repays

Mt. Gox reportedly starts repaying some creditors via PayPal Mt. Gox Repays Creditors Several Mt. Gox creditors reported receiving repayments, suggesting the defunct bitcoin exchange has initiated the repayment process. Users on Reddit and Telegram shared that they received payments through PayPal, with screenshots of email notifications confirming the transactions. The payments were denominated in Japanese yen and dated December 25, according to a user from the "MtGoxCreditors" Telegram group who verified the information with The Block. While Mt. Gox has not officially commented on these repayments, last month, the exchange's rehabilitation trustee stated in an email to creditors that efforts were being made to commence cash repayments within the 2023 calendar year. Due to the large number of rehabilitation creditors, repayments were expected to continue into 2024. Mt. Gox, once the largest bitcoin exchange globally, faced a collapse in 2014, resulting in the loss of over 800,000 bitcoins and bankruptcy protection filing. (Note: Mt. Gox has a history of legal and financial complications, and creditors are urged to exercise caution and verify details independently.)