Mt. Gox Begins Long-Awaited Bitcoin Payouts: What It Means For Crypto Market

Bitcoin prices recently saw a near 6% dip as Mt. Gox began issuing long-overdue payments to its creditors, marking a crucial moment in resolving one of the most infamous events in cryptocurrency history.

Mt. Gox, once the largest cryptocurrency exchange globally, filed for bankruptcy in 2014 following a series of hacks that led to the loss of around 950,000 Bitcoins. This catastrophic event, attributed to a flaw in Bitcoin’s framework, left many users with incomplete transactions and considerable financial losses. At the time of the bankruptcy, Bitcoin was valued at approximately $600 per coin, starkly contrasting its current price exceeding $57,000.

Initial Payments Begin

The trustee…

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