Report: Fortress offers to buy Mt. Gox Bitcoin claims for $ 900 a piece

Report: Fortress offers to buy Mt. Gox Bitcoin claims for $ 900 a piece

Report: Fortress offers to buy Mt. Gox Bitcoin claims for $ 900 a piece

According to a July 8 CoinDesk report, Fortress Investment Group buys Bitcoin (BTC) claims from Mt. Gox.

Japanese Cryptocurrency Exchange Mt. Gox filed for bankruptcy in 2014, losing Bitcoin by $ 473 million at the time due to an apparent hack. Bitcoin is reported to have experienced a subsequent decline in value, falling by 36% in the month it occurred.

According to the report, the head of the fortress, Michael Hurigan, sent out a letter to creditors with a detailed redemption offer. According to an explicit copy of such a letter, Fortress offered to redeem Bitcoin requirements at about twice as much as bankruptcy.

Asserted, the cost of claims at the time when Mt. Gox was declared insolvent, was 451 dollars, while Hurigan said that Fortress can offer 900 dollars for a coin.

The letter also notes that the purchase can be made in Bitcoin or paper money, and that the offer is valid until July 31.

As reported in April, Mt. Gox may be claiming their lost bitcoins, which are automatically filed on their behalf. A Reddit user named DerEwige distributed an unverified screenshot of an email saying:

The lenders who objected to your independent application for rehabilitation, have withdrawn their objections. As a result, the approval of your self-rehab application went into effect, and you no longer need to apply for an assessment of the claim.

DerEwige interpreted this as meaning that users of Mt. Gox, who did not file a claim for recovery after losing their crypto, received a lawsuit in their own name, which has now been approved.

About Viktor Sokolov 163 Articles
Nerd, entrepreneur & coffee aficionado. Believes that blockchain infrastructure and bitcoin will be the money system of the coming decades. Trying to make visible what this means for technology, economy, companies and societies.

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