Trustee of Mt. Gox called the deadline for voting on the return of BTC

Mt.Gox creditors can start voting on the return of bitcoins, but compensation will be paid only if a majority votes for it

The trustee of the infamous cryptocurrency exchange Mt. Gox, Nobuaki Kobayashi, called the deadline for voting on the return of bitcoins to the victims of the hacked site. According to the published document, victims of the failed crypto exchange can vote for the return of the cryptocurrency until October 8, 2021.

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Victims can choose how to receive compensation: in bitcoin, bitcoin cash (BCH) or in fiat. The trustee of Mt. Gox will sell the remaining cryptocurrencies on the market. As stated by Kobayashi, those who missed the vote will automatically be considered as voting against the refund of bitcoin. For the compensation plan to take effect, at least half of all bitcoin rights holders on Mt. Gox must participate in the vote.

See also: The Bitcoin wallet of the Mt.Gox hacker still stores almost 80 thousand bitcoins. BTC

If the plan is adopted, the priority will be the creditors who requested payments in fiat. It is also reported that each Mt.Gox lender will receive additional payments of $1920. Thus, Mt. Gox will be able to recover more than 137,000 BTC (~$5 billion at the current exchange rate). However, those who disagree with the fiat payment can demand a refund of 21% of the total balance. Also, creditors can choose a third option — compensation in a different percentage, which will be known only at the time of covering all positions.

Recall that the Mt.Gox crypto exchange announced its termination in early 2014. The protracted legal process still does not allow full compensation to be paid to the victims hacking a crypto exchange. Almost 850,000 bitcoins (at that time it was $473 million and 7% of the total turnover of bitcoins) were stolen, although then 200 thousand bitcoins were still recovered. Read about how Fortress Investment offered ridiculous terms of the deal to the victims of Mt.Gox in the BeInCrypto article.

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