Mt. Gox customers that lost Bitcoins as a result of the site’s collapse last year can now file a claim for reimbursement. While one shouldn’t expect to get back all of their funds, it’s certainly better than nothing.
Creditors are encouraged to use one of three methods to file a claim: online via the Mt. Gox claims filing system, through US-based Bitcoin exchange Kraken or offline (apparently for those that like to do things the old fashioned way). Kraken was appointed late last year by creditors to oversee the claims process. As an added bonus, the company is offering Mt. Gox customers up to $1 million in free trades if they file directly through their service.
Regardless of method selected, creditors will need a Kraken account as that is where reimbursed funds will be deposited.
Returns will be calculated at a rate of $483 per Bitcoin plus an extra six percent per year. That’s quite a bit higher than what they’re currently trading for (around $235) although it pales in comparison to the amount coins were going for when Mt. Gox came crumbling down.
Creditors have until May 29 to file a claim and according to TechCrunch, decisions on returns will be made by September 9.
Mt. Gox mysteriously shut down shop in early 2014. A few days later, the company revealed that at least 850,000 Bitcoins had been stolen and as a result, they were filing for bankruptcy protection. A recent investigation concluded that thieves had slowly been siphoning off Bitcoins since at least 2011.