Mt. Gox customers who lost all their crypto holdings with the popular crypto exchange platform are finally getting their money back, and then some. On July 5, 2024, a rehabilitation trustee announced in a letter that the first tranche of repayments to its creditors had begun and that funds were now flowing toward the designated exchanges and into customers' wallets.
Crypto exchange Mt. Gox filed for bankruptcy in 2014 when a flaw in its system allowed hackers to plunder almost all of its crypto holdings—worth around $400 million at that time and now valued at around $45 billion. Almost all victims were left with nothing in their Mt. Gox holdings, and they all had to go through a myriad of loopholes and red tape just to try to get their money back.
