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Bitcoin refund claims enabled for Mt.Gox corporate creditors now

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MT.GOX Bitcoin Refund Claims
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We’ve come a long way in the crypto world regarding safeness and trustworthiness when it comes to exchanges. In this sense, it is not that scammy exchanges or hacking activities no longer exist, but if we consider the actual probabilities of this happening compared to 5 years ago, the difference is more than notorious.

And that is for sure, a thing for which we all should be happy about. Let’s recall it was back in 2014 when the largest Bitcoin exchange by trading volume, Mt.Gox, was hacked, and 744,000 Bitcoin (BTC) were stolen from the accounts of several users, both corporate and individuals.

The event marked without a doubt a significant milestone in the industry, and even for a period, it seemed impossible to believe that users would regain trust in crypto. However, the story is different now.

A few years later of what happened still there are many of which are fighting to get their funds back, and apparently, their prayers have been heard as recently (on Wednesday) an online method for corporate creditors of the extinct exchange to claim their Bitcoin refunds got enabled. Let’s see all of the details behind this.

Online filing system for corporate creditors

Ever since the unfortunate event that saw the loss of 744,000 BTC, both corporate and individual users have been trying hard to get back the funds they had before the robbery.

Nonetheless, this has definitely not been an easy task. In fact, Mt.Gox declared in bankruptcy to a court in Tokyo after the scandal that took place in 2014, and this left all of the holders with their hands tied up.

With respect to this, last year a group of creditors got together to fill and sign a petition in which they requested the Tokyo court to dismiss the bankruptcy status of the Mt.Gox, and label the case as a civil rehabilitation. The court decided to approve the request and back in June it was declared as such.

From that moment on, creditors have been waiting for a dictamen of the company, and this actually happened a few days ago but only for individual creditors, and not for the corporate ones. Mt.Gox opened a filling system on August 23 in which individual creditors could request their refund by attaching the appropriate proofs required, a fact that has all of the corporate creditors feeling concerned.

However, the wait is finally over as MT.Gox trustee has declared that the corporate creditors have the chance now to request their Bitcoin refunds by using the filling the system.

The announcement was in charge of Nobuaki Kobayashi, who is the rehabilitation trustee and attorney-at-law for the case, he said on the release:

“We have released an online rehabilitation claim filing system … which allows corporate users to file their proofs of claim by online methods in connection with the civil rehabilitation proceedings.”

With relation to this, it was known that the trustee would publish an approval or refusal statement that will be sent to a court in Tokyo for a final decision as soon as the imposed deadline ends; this decision would tentatively be taken at the beginning of the next year.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Bitcoin

New Tendencies of Bitcoin Gambling

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Bitcoin gambling
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Gambling has always been an integral part of human nature. Nothing is sweeter than the money you win, and that’s why wagering games have always captivated people throughout history. Last couple of decades saw the gamblers switch increasingly towards virtual gaming, instead of physically being inside a casino. The popularization of online casinos led to the integration of Bitcoin Gambling into the systems and today a very large share of the casino industry is based on the virtual currency.

Reasons behind the transition

The tendency to switch from classic casino environment was dictated by the fact of mobility and accessibility. But the new age has brought us cryptocurrencies like Bitcoin that revolutionized the gambling business. From now on, the gamblers of the world don’t have to rely on traditional banking transactions to be able to enjoy themselves online. A simple crypto-wallet and ownership of virtual currency is enough to engage in Bitcoin Gambling.

Bitcoin Gambling and Blockchain Technology

The big reason for the heavy shift towards Bitcoin Gambling is the fact that Bitcoin and other cryptocurrencies are based on the blockchain technology. This means that the process is decentralized, resulting in a much faster speed of transactions, when it comes to depositing or withdrawal of funds in or from the casino accounts. It also makes gambling incredibly secure,…

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Bitcoin

Bitcoin will return to the bear market? Bex500 senior investor teaches you how to get profit in the Bear market

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Bitcoin
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—— Don’t forget to join Bex500 bonus program at the bottom of the article.

Since September, the Bitcoin price has been decline from beyond $10000 to below the $8000, which 20% of the bitcoin value has been removed. The collapse of bitcoin price brings about the new panic in the bitcoin trading market. Many bitcoin investors are scared of the returning bear market as the early of this year. On the contrary, some of the bitcoin-believer, especially the investor who brought Bitcoin in the height of the price still thought that the bitcoin price will rebound very soon. However, it is no doubt that the early stage of the bear market has been shown up in the past month. Many crypto analysts start to predict the bottom price of this market movement.

However, as the market developed, crypto traders have detected more tools to safely pass through the bear market. They realized more ways to avoid the loss of the price decline; moreover, they began to earn profit from the bear market. The key to the tools is the bitcoin futures contracts. We are honored to make an interview with Bex500 senior investor Tom Beck and he introduces the details about bitcoin futures contracts. (Reporter=R, Tom Beck=T)

R: Hi, Tom, Thank you for accepting our interview, Could you introduce yourself?

T: Sure, My name is Tom, I have over…

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