1. Mt. Gox was a cryptocurrency exchange that operated between 2010 and 2014.
2. Mt. Gox once accounted for over 70% of all Bitcoin transactions.
3. In 2014, Mt. Gox was hacked and thousands of Bitcoins were stolen; the company filed for bankruptcy shortly thereafter.
4. In late 2021, creditors and the Tokyo District Court reached an agreement on the Mt. Gox rehabilitation plan, closing a seven and half year legal battle.
5. Mt. Gox, the crypto exchange from which bitcoin (BTC) now worth almost $23 billion was stolen nearly a decade ago, has delayed the deadline for repaying people by a year, its trustees said on Thursday.
6. The creditors of Mt. Gox have been looking for some sort of relief for a decade. The prominent crypto exchange was hacked in 2014, which led to 850,000 bitcoin (BTC) being taken. The exchange ultimately managed to recover around 20% of the stolen tokens.
7. The Mt. Gox repayment could have some impact on bitcoin prices, due to the sheer size of the tokens being released, but would not destablize the market, UBS had said in a report earlier this year.
