Mt Gox the former Bitcoin giant has come back around to hit the crypto space again but this time it’s for reimbursing peoples lost Bitcoin and Bitcoin-forks.

The latest news coming from the shambolic court case of Mt Gox is the trustee in charge will be reimbursing creditors of the website, with there currently being over 1000 accepted claims to the Bitcoin fortune on the bankrupt exchange.

The exchange currently holds over $630 million in cash and over 141,000 Bitcoin as well as 142,800 BCH totaling over $593 million but the trustee’s documents indicate that he has approved claims for over 802,000 BTC worth $3.3 Billion, 792,200 BCH worth $124 Million and over $38 millions in dollars alone.

But it doesn’t take a mathematician to work out that the exchange doesn’t have enough to cover all the accepted claims but there have been no comments from the trustee on how they will pay everyone.

But one thing will be more than certain there will be a mass sell-off of Bitcoin and the Bitcoin Forks, Imagine if you received an offer for $500,000 plus cash as a reimbursement 6+ years after you lost your money you would cut your losses and take what you could and hope it could improve your life after the Mt Gox mess.

On the other side of the coin, there is hope the owners of the Bitcoin and BCH believe in cryptocurrencies and hold their coins for the future and this could stop the crypto market falling through the ground.

But this is all speculation at present until we get further news from the trustee in charge, But there are two things we know so far that the deadline for claiming is set as 26th April 2019 and this spells bad news for the crypto space.