Nobuaki Kobayashi, in charge of paying damages to the Mt. Gox exchange office, has announced that the victims of the exchange’s hack can now recover part of their lost currency after several years of legal action.
to the the report In a letter to investors three days ago, Cubayashi announced that the Tokyo District Court had approved an amendment to the exchange compensation program. With the approval of this amendment, the way will be opened for activating the compensation mechanism. Kobayashi wrote in the letter:
We are pleased to announce that online voting in the claims system has begun.
Matt Gax was once the largest digital currency exchange in the world, handling more than 70% of bitcoin transactions. Matt Gax has been attacked by hackers on several occasions. In the latest attack, which took place in February 2014, more than 850,000 bitcoins were stolen from the exchange.
Since then, more than 20,000 properties have been claimed. It is worth noting that Kobayashi is the lawyer for the victims of this case.
The legal department of Matt Gax says there are currently 165,000 bitcoins in the Cubayashi cold wallet. The value of these currencies is estimated at $ 6 billion.
As of December 2017, something like 35,800 bitcoins ($ 1.3 billion) and 34,000 bitcoins ($ 23.1 million) have been sold through a trustee.
Under the compensation plan, losers can claim 90% of the remaining bitcoins. Compensation will be in Japanese Yen, Bitcoin and Bitcoin Cash.
Each request will be converted into Japanese Yen. Each bitcoin is equivalent to 749,318 yen or $ 7,205.