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  • Bitstamp has 60 days to distribute tokens as per agreement.
  • Compensation to be ensured ASAP by Bitstamp.
  • Mt Gox creditors in Japan have started receiving BTC and BCH.
  • Compensation received in Bitbank or Kraken exchange accounts.

Bitstamp to Facilitate Mt Gox Creditor Compensation

Bitstamp, a leading cryptocurrency exchange, announced that it has 60 days to distribute tokens to Mt Gox creditors, as per an agreement with the Mt Gox trustee. The exchange is committed to ensuring that these investors are compensated as soon as possible.

The announcement follows a significant development where several Mt Gox creditors in Japan confirmed they had received Bitcoin (BTC) and Bitcoin Cash (BCH) compensation in their exchange accounts on Bitbank or Kraken. This marks a crucial step in the long-awaited resolution for those affected by the infamous Mt Gox collapse.

Efficient Distribution and Immediate Compensation

Bitstamp’s agreement with the Mt Gox trustee stipulates a 60-day window for distributing tokens to the creditors. This period is critical for ensuring a smooth and efficient process.

will prioritize the prompt distribution of tokens, aiming to expedite the compensation process.

Mt Gox, once the world’s largest Bitcoin exchange, filed for bankruptcy in 2014 after losing approximately 850,000 BTC due to hacking and other issues. The collapse left thousands of creditors waiting for compensation for nearly a decade. The recent developments, including Bitstamp’s commitment and the initial compensations received by some creditors, represent significant progress in resolving the long-standing issue.

that several Mt Gox creditors in Japan have already received their BTC and BCH compensation via Bitbank or Kraken is a hopeful sign for others awaiting their tokens. This compensation marks a critical step towards financial restitution for those impacted by the Mt Gox bankruptcy.

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