Bitstamp, a leading cryptocurrency exchange, announced that the bankrupt Mt. Gox exchange announced that it will start distributing the revenues from its exchange to its customers as of this Thursday.
This is Mt. It comes ten years after Gox fell victim to a significant attack.
Funds containing Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH) were received from Mt Gox trustees earlier today, according to a post on Bitstamp's website.
This move by Bitstamp follows a large number of Mt. investors who started purchasing assets through Kraken, another crypto exchange. Gox is following the news of its creditor. Mt. The trust responsible for managing Gox assets began sending those assets to various crypto exchanges earlier this month. It is expected that users will be able to get these funds back in the coming weeks.
Mt. Gox was once the world's largest crypto exchange, handling more than 70% of all Bitcoin transactions at its peak. However, the stock market crash left a significant impact on the crypto industry.
The upcoming distribution, which includes approximately $9 billion worth of assets, primarily BTC and BCH, has become a matter of concern in the crypto market. Investors have expressed concerns that creditors could take advantage of a decade of price growth by selling reclaimed assets, potentially flooding the market.
*This is not investment advice.