MtGox's $318M Worth BTC to be Sold at BitPoint

Creditors gained access to the data of the Mt.Gox case and confirmed BitPoint relation
05 February 2019   450

The trustee of the bankrupt Mt.Gox cryptocurrency exchange Nobuaki Kobayashi sold Bitcoins and Bitcoin Cash for a total amount of 35 billion yen ($ 318 million) through the BitPoint trading platform, Cointelegraph reports.

According to the publication, a group of creditors gained access to the data of the Tokyo District Court in the Mt.Gox case, which confirmed the connection of huge BitPoint transactions with the board of trustees of the once legendary stock exchange.

So, billions of yen were transferred to Kobayashi’s bank account with BitPoint. It is likely that this trading platform was chosen for the sale of Mt.Gox reserves for the purpose of subsequent payments to creditors, despite the fact that the trustees have already been heavily criticized for using exchange platforms instead of OTC.

Recall that as part of the civil rehabilitation process, creditors can recover up to $ 1 billion.

It is noteworthy that CoinLab CEO Peter Vincennes recently demanded that trustees Mt.Gox refund $ 16 billion for the failed agreement of 2012.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   88

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.