Mt.Gox rehabilitation program started to include corporate clients of the exchange. Previously, the refunding of the lost assets was only available for individuals. The Mt.Gox website reports that the deadline for filing an application for compensation for companies is set at the same date as for ordinary users, and it will finish on October 22. The document regarding the expansion of the program was signed by the representative of the site for bankruptcy, lawyer Nobuaki Kobayashi.
Japanese Mt.Gox was the first legal crypto exchange. In 2014 it became known that 744,400 bitcoins belonged to its users and another 100,000 coins belonging to the administration of the platform had disappeared from the site. Mt.Gox was declared bankrupt. During the investigation about 750,000 bitcoins were declared lost forever, another 200,000 were found on the platform’s accounts, and were demanded to return them to investors. In March 2018, the first compensation payments began, and on August 23 Mt.Gox launched a rehabilitation program.
WHY IS IT IMPORTANT?
- Due to the Mt.Gox hacker attack, lots of companies lost their funds, but the payment of compensation has not yet affected them.
- In Japan, an incident with the crypto exchange caused a tightening of the regulations of cryptocurrency market.