Bitstamp to distribute Mt. Gox Bitcoin by July 25

Following Kraken’s Mt. Gox distribution, Bitstamp has announced readiness to reimburse creditors of the defunct Bitcoin exchange. 

Crypto exchange Bitstamp confirmed receiving Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) from the Mt. Gox Truste intended to make hack victims whole again. Bitstamp reportedly informed users that disbursements could start on Thursday, July 25. The platform said a separate distribution plan exists for  U.K. residents, although the amount sent by Mt. Gox was undisclosed. 

On July 23, Arkham highlighted four Bitcoin transactions from the defunct crypto exchange. At least two transfers went to Bitstamp wallets. Data showed movements of 2,237 BTC worth $147 million and 382 BTC valued at $25 million to the crypto exchange. 

Mt. Gox’s Trustee also sent 32,371 Bitcoin or $2.13 billion to an unlabeled wallet around the same time as Bitstamp transactions. Kraken already settled customer repayments from the bankrupt platform.

Bitstamp’s statement reminded observers of the scope of Mt. Gox repayments. Following six hacks between 2011 and 2014, around 20,000 users are owed $9 billion in Bitcoin and other cryptocurrencies. The hackers were never identified, and this remains a watershed moment in Bitcoin’s history.

Bitcoin traded 1% down after the Bistamp announcement.