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Breaking News / Cryptocoins

BREAKING: Mt. Gox Creditors Will Be Reimbursed In Crypto, Markets Crash In Response

The Tokyo District Court has published a document which rules that creditors involved in the Mt. Gox hack in 2014, that saw a loss of $472 Million will be reimbursed in cryptocurrency.

See the full report for yourself here-

Creditors are now eligible for a refund in cryptocurrency and will be required to register a claim before October 22nd, 2018. The document does suggest that formal proceedings will not begin until February 2019. Until then, Mt. Gox will no longer be able to engage in mass sell offs, such sell offs have recently been blamed on causing the markets to crash recently.

The markets have responded to this news and as a result, values have truly plunged.

At the time of writing:

Bitcoin is down 8.75%
Ethereum is down 11.87%
Ripple is down 7.58%
Bitcoin Cash is down 13.34%
EOS is down 16.74%
Litecoin is down 12.30%
Stellar is down 9.89%
Cardano is down 9.19%
IOTA is down 10.79%

This trend continues throughout the market.

Expect more to come from this as the news breaks.

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As a key writer for Crypto Daily, Nathan’s role entails the creation of cutting edge news articles, reviews, press releases and general content creation. Nathan’s stories strive to include the most up-to-date cryptocurrency news and affairs, contributing to Crypto Daily’s growing network. Nathans previous experience as a researcher, working on University standard projects means he has a wealth of experience in writing, from academic thesis publication to independent research projects. By applying these research skills to Crypto Daily, we can ensure the content creation team really do know what they are talking about.