Mt. Gox Delays Repayments for Another 12 Months!

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Mt. Gox, the defunct crypto exchange, has delayed its planned repayments for another 12 months, according to an announcement on Thursday. The deadline for repayments, originally set for October 31, 2023, has now been postponed to October 31, 2024. The exchange was hacked in 2014, leading to the theft of 850,000 BTC, worth nearly $23 billion based on current prices. Mt. Gox managed to recover only around 20% of the stolen tokens. The delay in repayments could impact bitcoin prices due to the substantial quantity of tokens being released, though UBS has earlier said it would not destabilize bitcoin.