Bitstamp to Start Distributing Mt. Gox Proceeds on Thursday

Mt. Gox customers will start receiving payouts from the defunct crypto exchange through Bitstamp on Thursday, some 10 years after the exchange succumbed to a hack. The funds in bitcoin (BTC), ether (ETH) and bitcoin cash (BCH) were received from the Mt. Gox trustees today, Bitstamp said in a post on its website. U.K. customers will not be included in the first set of distributions, the crypto exchange said. Bitstamp's action came after multiple Mt. Gox creditors reported receiving assets via Kraken. The imminent distribution of nearly $9 billion worth of assets, mostly BTC and BCH, has been weighing on the crypto market.

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