The movement called "GoxRising" calls for a new, accelerated rehabilitation plan for the lenders of the non-existent Mt. Gox Bitcoin exchange, – this was reported in the TechCrunch online edition on February 7th, in an interview with author Brock Pierce.
The collapse of the exchange
As previously reported, approximately 24,000 lenders suffered from Mt. Gox hacking in 2011, as well as the subsequent collapse in early 2014, which led to the loss of 850,000 BTC, estimated at that time at about $ 460 million.
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Indemnification of creditors is currently being reviewed under the direction of Tokyo-based lawyer Nobuaki Kobayashi, who was appointed by a Japanese court as a trustee in civilian rehabilitation to manage Mt. It is expected that compensation will take 3-5 years, notes TechCrunch.
Exchange credit recovery
GoxRising argues that recovery of creditors can be accelerated if legal and technical barriers are overcome. According to TechCrunch, in Mt. currently assets are worth about 1.2 billion dollars.
Pierce told the publication: "The goal of the GoxRising movement is to restart a platform called Gox or Mt. Gox exchange – for the rehabilitation of not only lost funds, but also the brand and domain itself."
GoxRising undertakes to pay compensation to creditors in BTC or BCH and to strengthen efforts to restore the still missing cryptocurrency. Gox’s equity will be in favor of a new independent fund that will be managed by lenders and aimed at the restoration and distribution of outstanding assets of Mt.Gox.
Creating the "Gox Coin"
The proposed plan will depend on the creation of the "Gox coin", which will give creditors a share in the newly created fund.
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Reportedly, the GoxRising project will require about half of the lenders of the exchange – 12,000 people.
Editor: Yuliya Soroka