Mt.Gox Allows Customers To Retrieve Stolen Cryptos

Mt.Gox Allows Customers To Retrieve Stolen Cryptos

Mt.Gox sets up a system that allows customers to recover their lost assets. From now on, users can fill out a form on the website that will allow them to apply for the lost assets.

There were already problems around the Mt.Gox crypto exchange in 2014. Unknowns had stolen the stately sum of 850,000 Bitcoin. The result: the company had to file for bankruptcy. Mark Karpeles, CEO of Mt.Gox, was suspected of having stolen the cryptocurrencies himself. At least it was one of the first major breaches of trust that raised questions about the safety of the markets. Finally, Mark Karpeles had to answer in court and then to jail.

April saw the sale of larger volumes of Bitcoin and Bitcoin Cash. Here, considerable doubts arose as to what intentions hid behind the divestment. But now, just over four years after the first incident, Mt.Gox is back in action. According to this, the stock exchange has set up on its website a way for users to register for the recovery of their lost assets:

We announce our Online Rehabilitation Claim System on the Mt.Gox’s website, which authorizes users of Mt.Gox, among other things, to have their claims for compensation reviewed. We’re also starting to accept compensation claims offline – for users who can not claim online through the system.”

The current proceeding is a reaction to the order of the Tokyo District Court of 22 June 2018. Accordingly, the court ordered the stock exchange to examine the claims of (former) customers for compensation claims. For more information, Mt.Gox encourages its customers to periodically review the site.