Mount Gox Exchange Victims of Bankruptcy-- Partial Recovery Possible

As Mt. Gox exchange declared bankruptcy due to hacking of 850,000 Bitcoin, creditors are now filing a civil suit and the U.S. investment firm, Fortress Investment Group is buying their bitcoin payment claims.

The creditors' damage is expected to recover to some extent.

In a letter to creditors, Michael Hourigan, managing director of Fortress Investment, said he was buying Bitcoin claims for the Bitcoin investment entity run by the company. Fortress Investment is a Private Equity (Samo Fund) company based in New York, which was acquired by Softbank Group in 2017.

The Mount Cox exchange reached bankruptcy at the time when about 850,000-bitcoins were hacked from the exchange's servers in 2014, but creditors (the victim) started the process of civil litigation at the Tokyo District Court in 2018 to recover the loss of bitcoin.

Reporter James Lee (news@dailycoinews.com)의 기사 더 보기

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