According to a recent update from Kraken, the centralized cryptocurrency exchange has received funds from the Mt Gox trustee. Consequently, bitcoin ( BTC) and bitcoin cash ( BCH) payouts will be distributed to creditors’ accounts within 7 to 14 days.
Mt Gox Funds Arrive at Kraken: Bitcoin and Bitcoin Cash Distributions Expected Soon
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Kraken Confirms Receipt of Mt Gox Funds
On Tuesday, the Mt Gox trustee moved significant amounts of bitcoin ( BTC) and bitcoin cash ( BCH). This activity led to a slightly bearish reaction in the market, causing a modest decline in crypto prices. Following these transactions, Mt Gox creditors were informed by Kraken that its portion of the Mt Gox funds had been received.
“We have successfully received creditor funds ( BTC and BCH) from the Mt Gox trustee,” Kraken wrote. “While we will work to distribute funds as quickly as possible, please anticipate 7-14 days for funds to be credited to your account.”
Kraken was among five cryptocurrency exchanges selected to receive Mt Gox funds. The trustee also designated Bitstamp, Bitgo, Bitbank, and SBI VC Trade to receive bitcoin ( BTC) and bitcoin cash ( BCH). “The amount you will receive has been determined by the trustee, and we will distribute according to their instructions,” Kraken noted on Tuesday. Mt Gox creditors have endured a wait of more than ten years to reclaim their funds.
What do you think about Kraken’s latest update on the Mt Gox funds? Share your thoughts and opinions about this subject in the comments section below.
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