Mt. Gox Rehabilitation Plan Worth Billions in Compensation Approved; Finalization to Follow

Posted on by American Coins & Gold

Mt. Gox Rehabilitation Plan Worth Billions in Compensation Approved; Finalization to Follow
The end of a long journey is finally in sight for the thousands of creditors who lost billions in funds in the infamous Mt. Gox hack. In that hack, more than 600,000 bitcoins were siphoned off between 2011 and 2013, forcing the cryptocurrency exchange into bankruptcy in 2014. Rehabilitation Trustee Nobuaki Kobayashi issued a statement Wednesday acknowledging the plan to reimburse victims has been accepted by the requisite number of voting participants.The Civil Rehabilitation plan was first proposed in February. It laid out a scheme by which victims would be at least partially compensated for funds lost in the hack.Creditors…