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Title: Mt.Gox case Post by: Kiro5 on November 03, 2017, 01:36:05 PM This has probably been asked several times before and I apologize if it has.
I bought 6.9 coins with Mt.Gox exchanges years ago now and my claim with the liquidation process was successfully accepted. At what price does bitcoin have to be for Mt.Gox to be able to repay their creditors in full? Am I correct that the liquidator will issue me with my bitcoins (as I opted to be paid in bitcoins if successful)? I read that the Japanese court pegged the Mt.Gox coins to $450 plus (€415) wich is unfortunate as the coins are worth a lot more now but if they pay me the bitcoins Mt.Gox held, do I not have my 6.9 coins or will the liquidator only send me the $450 equivenelt in bitcoins? Thank you to anyone who can assist in my understanding of this. K Title: Re: Mt.Gox case Post by: Kiro5 on November 07, 2017, 12:57:00 PM Just bumping this if I may
Title: Re: Mt.Gox case Post by: Kiro5 on November 20, 2017, 08:41:08 PM Bumping hoping to find an answer
Title: Re: Mt.Gox case Post by: Parodium on November 20, 2017, 09:03:05 PM Bumping hoping to find an answer Unfortunately it is looking like you'll be paid ~$450 * however many bitcoins you lost. This was the rough value of BTC at the time of the "hack", they simply do not have the BTC to pay everybody off in BTC. Title: Re: Mt.Gox case Post by: aardvark15 on November 20, 2017, 09:16:28 PM This has probably been asked several times before and I apologize if it has. I bought 6.9 coins with Mt.Gox exchanges years ago now and my claim with the liquidation process was successfully accepted. At what price does bitcoin have to be for Mt.Gox to be able to repay their creditors in full? Am I correct that the liquidator will issue me with my bitcoins (as I opted to be paid in bitcoins if successful)? I read that the Japanese court pegged the Mt.Gox coins to $450 plus (€415) wich is unfortunate as the coins are worth a lot more now but if they pay me the bitcoins Mt.Gox held, do I not have my 6.9 coins or will the liquidator only send me the $450 equivenelt in bitcoins? Thank you to anyone who can assist in my understanding of this. K I don’t specifically know about MtGox, but I lost Bitcoins with Cryptsy which was a similar situation. In the case of Cryptsy, there is a class action lawsuit that liquidated some of the assists of the owner and is supposed to pay back some of that to the customers that filed a claim. Unfortunately the amount we will get is probably just pennies on the dollar. It’s possible that for MtGox it’s going to be a similar situation. It may not matter how high the price of Bitcoin gets. They may have already liquidated the assets and just spread that among the claimants (after the lawyers take a cut) Title: Re: Mt.Gox case Post by: jseverson on November 21, 2017, 02:56:37 AM It doesn't look like it's final yet, but according to Japanese bankruptcy laws, the losses will be computed according to the value of Bitcoins at the time the proceedings began. It also looks like Karpeles actually stands to gain money in this mess. Check out this article for more info:
https://cryptovest.com/news/mt-gox-head-mark-karpeles-may-gain-almost-1-billion-despite-bankruptcy/ I would also like to note that there are other charges against Mark Karpeles unrelated to the Bitcoins he lost so he's likely not going to get away scot-free. |