Bitcoin exchange Kraken says Mt Gox lawsuit has made significant progress

Kraken, a San Francisco-based digital currency exchange, has announced that it has made significant progress in the liquidation of Mt Gox claims. As early as November 2014, the exchange began to assist the Tokyo District Court in handling the claims of Mt Gox creditors. It is reported that out of 9,863 creditors who filed claims only in Bitcoin, 7,952 have been approved so far.

"We want to revive the reputation of bitcoin, create a healthy market, and eventually make a profit for ourselves," Ayako Miyaguchi, head of Kraken's Japanese operations, told reporters.

Today, Kraken and the court trustee announced that those who have filed claims can check the status of their review by visiting the Mt Gox website. On February 17, the trustee and Kraken announced the highly anticipated claims information at the Mt Gox creditors' meeting in Tokyo. To date, 12,583,717,791 yen (about $110 million) worth of Bitcoin has been approved for creditors, and the current value of Bitcoin outstanding is 27,547,026,403 yen (about $243 million) . According to the report, there are more than 24,000 creditors who have applied for Bitcoin and fiat currency losses. Trustee Nobuaki Kobayashi said in a statement:

“While the Mt Gox investigation process is ongoing, we have made significant progress in our work with creditors.”

Creditors who wish to receive bitcoin compensation need to register for a Kraken account, but no date has been set for when the funds will be approved for distribution. Meanwhile, Kobayashi is currently working with Tokyo officials to investigate Mt Gox CEO Mark Karpeles.

"Although Mark Karpeles is the representative director of the bankrupt entity, he has been indicted and arrested," Kobayashi said. "I will cooperate with the police as much as possible. We need to treat the investigation of this case carefully."

Kraken, which helped Kobayashi conduct a large number of claims review, will also be responsible for the distribution of claim funds. Kraken CEO Jesse Powell said:

“The progress of Mt. Gox’s bankruptcy proceedings will have a beneficial impact on the global Bitcoin community. Kraken is proud to use our resources and expertise to minimize creditors’ losses, restore the confidence of the Bitcoin community, and hopefully demonstrate trusted leadership within the industry.”

It seems that some creditors may finally get some of their lost bitcoins, and the story of Mt. Gox is far from over, but it will certainly go down in history as one that the Bitcoin community and the world will likely never forget.

Original article: https://news.bitcoin.com/kraken-announces-significant-progress-with-mt-gox-claims/
Author: jamieredman
Compilation: Overnight porridge
Source (translation): Babbitt Information (http://www.8btc.com/kraken-mt-gox)