Crypto exchange Bitstamp will start distributing Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) received from the Mt. Gox Trustee on July 25 to compensate hack victims. The platform has a separate distribution plan for U.K. residents.
On July 23, Arkham reported four significant Bitcoin transactions from Mt. Gox, with at least two transfers totaling 2,619 BTC worth $172 million going to Bitstamp wallets. Additionally, 32,371 Bitcoin valued at $2.13 billion was moved to an unlabeled wallet.
Bitstamp’s announcement led to a 1% dip in Bitcoin’s price. Kraken has already completed repayments for its customers affected by the Mt. Gox bankruptcy.
This distribution marks a milestone in addressing one of the largest crypto exchange hacks, highlighting the ongoing efforts to restore trust in the crypto community. The successful execution of these repayments is crucial for the long-term credibility and stability of the cryptocurrency market.
