Mt. Gox Bitcoin Exchange Hack Victims to Get $9B Back a Decade Later

Japanese Bitcoin exchange Mt. Gox was once the largest in the world, but it went bankrupt in 2014 after losing 950,000 Bitcoin in a hack. Now, some of the investors who lost money may be getting it back.

After the hack, the company recovered roughly 140,000 coins, which weren't worth much at the time. But thanks to Bitcoin’s growth, those coins are now worth an astounding $9 billion, which will be returned to investors who lost money during the exchange’s bankruptcy.

At the time of the loss, a single Bitcoin was trading for around $600. Now, that same coin is worth $60,000. It is unknown how much investors will receive individually.

CNBC reoorts that one of the claimants in a class-action lawsuit against the company, Gregory Greene, said his account included $25,000 in frozen Bitcoin when Mt. Gox declared bankruptcy. It's now worth $2.5 million.

CNBC also notes that many account holders have sold off their claims over the past decade, so the number of folks collecting now is likely smaller than in 2014.

Distributions to the site’s 20,000 creditors will begin next month and will be sent in a mixture of Bitcoin and Bitcoin Cash.