In the current month, a total of 20,658 clients will begin receiving a portion of their previously lost assets, which are currently valued at over $9 billion in Bitcoin, Bitcoin Cash (BCH), and Ethereum (ETH).
David Ripley, the CEO of Kraken, has confirmed the successful distribution of Mt. Gox BTC and BCH to creditors. On July 16, a total of 48,641 BTC was transmitted to an address that is thought to belong to a Kraken wallet.
Bitstamp, a European exchange, has verified the receipt of cash from Mt. Gox and has commenced the redistribution of assets to creditors who are not located in the United Kingdom.
Arkham Intelligence reports that Mt. Gox currently possesses roughly 90,344 BTC, valued at almost $5.77 billion. This amount represents about 64% of the initial 140,000 BTC that was seized by law enforcement.
The commencement of repayments is a noteworthy achievement for Mt. Gox creditors, finally delivering the long-awaited retribution for their financial losses. Exchanges such as Kraken and Bitstamp have sustained market stability by practicing transparent communication.
The overall response of the crypto market has been subdued, with just slight swings in the values of BTC and BCH. This indicates that the market was well aware of these developments and had already factored in the probable effects.