Share this article
BTC
$81,912.17
+
0.80%ETH
$1,555.71
-
0.63%USDT
$0.9995
+
0.00%XRP
$2.0084
-
0.14%BNB
$582.83
+
0.93%SOL
$119.48
+
5.93%USDC
$0.9999
-
0.00%DOGE
$0.1581
+
1.74%TRX
$0.2372
-
0.96%ADA
$0.6190
+
1.07%LEO
$9.4129
-
0.29%LINK
$12.47
+
1.42%AVAX
$19.30
+
5.76%TON
$2.9247
-
0.85%XLM
$0.2336
-
0.12%SHIB
$0.0₄1202
+
0.81%HBAR
$0.1684
-
2.52%SUI
$2.1781
+
1.20%OM
$6.4052
-
0.43%BCH
$305.51
+
3.95%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Mt. Gox Appears to Have Started PayPal Repayments Tied to 2014 Bitcoin Hack
Payments through bank accounts are still awaited.
Almost 10 years after being hacked, the Mt. Gox crypto exchange appears to be starting to repay customers who lost 850,000 bitcoin [BTC] now valued around $36 billion.
Some participants in the mtgoxinsolvency subreddit group said they had received payouts in yen over Paypal. Others, who’d chosen to receive cash into bank accounts, said they had not seen any inflows.
STORY CONTINUES BELOW
The exchange, launched in 2010, was the world's biggest when it was hacked in 2014. It was ultimately able to recover about 20% of the stolen funds. Earlier this year, it extended the deadline for repayments by 12 months until October 2024.
The repayment could have some impact on bitcoin prices, due to the sheer volume of the tokens being released, but would not destablize the market, UBS had said in a report earlier this year.
Read more: CoinDesk Turns 10: The Legacy of Mt. Gox – Why Bitcoin’s Greatest Hack Still Matters
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
