Victims of the implosion of bitcoin exchange Mt. Gox are now able to opt between different ways for receiving their bitcoin back: bitcoin itself, cash, or Bitcoin Cash.
Users of the now defunct exchange lost hundreds of thousands of bitcoin combined eight years ago. Now, they could get some compensation.
Even though the incident caused the loss of over 700,000 BTC in 2014, less than 150,000 coins have allegedly been recovered and will be made available by the trustee for users to cut back on some of their losses.
The optionality could make 141,686 bitcoin liquid again, depending on the entitled users’ choices, posing a new selling threat to an already battered market.
Mt. Gox creditors were sent a correspondence dated July 6 by attorney Nobuaki Kobayashi, the appointed trustee in the Mt. Gox rehabilitation process, who confirmed that he was “preparing to make repayments” to account holders.
In addition to the payment method, creditors should also choose “whether to receive an Early Lump-Sum Repayment or not,” the document notes. A timeline for repayment has not been established.