This marks a significant moment in cryptocurrency history. Mt. Gox once the largest exchange for Bitcoins lost its place after being rocked by a huge hack attack in 2014. It is however set to commence the disbursement of $9 billion it owes clients as compensation for the hacking.
This compensation marks a major step forward in the current attempt to entirely resolve the financial consequences of this breach. It doesn’t really matter what form this compensation will take, it will eventually have some impact on Bitcoin prices as liquidity in the markets will further be increased.
Affected users of the Mt. Gox hack will be left with the option of either reinvesting into the market or cashing. It will also mean for these victims that at last a critical chapter in their fight for compensation has finally been closed. Finally, some sort of final settlement can now be made.
The development serves as a timely reminder of just how important it is for digital asset exchange platforms to ensure proper security while updating their security protocols from time to time.
