According to CoinDesk, former customers of the now-defunct cryptocurrency exchange Mt. Gox have reported receiving emails requesting confirmation of their identity and account details. The emails, shared on the mtgoxinsolvency subreddit group, indicate that recipients will receive payment in bitcoin or bitcoin cash (BCH) to their previously nominated crypto exchange account. Mt. Gox, launched in 2010, was the world's largest crypto exchange when it suffered a hack in 2014, resulting in the loss of 850,000 BTC, now valued at $33 billion. The exchange managed to recover approximately 20% of the stolen funds.
In December, some customers reported receiving payouts in yen to their PayPal accounts. The repayment process could potentially impact BTC prices due to the large volume of coins being released, especially if it coincides with increased inflows to exchange-traded funds (ETFs) and the upcoming bitcoin halving in April.
