Mt. Gox says it may start paying back creditors as soon as next year
The defunct bitcoin exchange Mt. Gox says it will start paying back the people it owes money perhaps by next year, according to an announcement today from the exchange’s trustee, Nobuaki Kobayashi. The exchange grew quickly between 2010 and 2014, until an attacker slowly drained the exchange of bitcoins, forcing it to file for bankruptcy.
Now, Mt. Gox’s bankruptcy proceedings have been paused so that the exchange can pay off its debts. Creditors seeking to be paid back in bitcoin will receive bitcoin back, which could now be worth more than it was when Mt. Gox declared bankruptcy. At the time the bankruptcy proceedings started, bitcoin was worth $440 per token. Bitcoin is worth more than $6,100 per token at the time of writing.
Kobayashi...