- Kraken users report receiving emails about Mt Gox funds.
- Emails confirm successful receipt of BTC and BCH from the Mt Gox trustee.
- Kraken expects fund deposits within 7-14 days.
- Users anticipate long-awaited reimbursements from the Mt Gox collapse.
Kraken Users Set to Receive Mt Gox Funds
Kraken Confirms Receipt of Funds
Several Kraken users have reported receiving emails from the exchange stating that it has successfully received creditor funds (Bitcoin and Bitcoin Cash) from the Mt Gox trustee. This news comes as a relief to many who have been waiting for years to be reimbursed following the infamous collapse of the Mt Gox exchange.
The emails from Kraken confirm the receipt of these funds and provide a timeline for when users can expect the funds to be deposited into their accounts. Kraken estimates that it will take approximately 7-14 days for the funds to be processed and made available to users. This development marks a significant step in the long process of resolving the fallout from one of the largest exchange failures in cryptocurrency history.
A Long-Awaited Resolution
The collapse of Mt Gox in 2014 sent shockwaves through the cryptocurrency community. Once the world’s largest Bitcoin exchange, Mt Gox filed for bankruptcy after losing 850,000 Bitcoins, worth around $450 million at the time, to hacking and other issues. Since then, creditors have been involved in a prolonged process to recover their lost funds.
For many creditors, this news brings hope and relief. The expected 7-14 day timeline for the deposit of funds means that users can finally begin to see some of their lost assets returned. While the recovery process has been lengthy and fraught with delays, this development is a positive sign that the end is in sight.
