Mt Gox customers can now receive bankruptcy distributions in Bitcoin, among several other benefits by becoming a user of the cryptocurrency exchange Kraken.
According to the San Francisco-based Bitcoin exchange’s official blog post, Kraken has begun the process of accepting Mt Gox creditor claims and is offering up to $1 million in free trade volume per creditor as a bonus for claiming funds through Kraken.
With the support of Kraken, the Mt Gox’s trustee has been able to create a system which will enable customers to file bankruptcy claims and receive compensation via a smooth and simple process.
“Thanks to Kraken, filing of claims can be done through their system,” said the MtGox trustee. “We expect this to enable smooth filing of bankruptcy claims and distributions.”
Kraken was selected by the Japanese exchange’s trustee in November to investigate the theft of 744,000 Bitcoins and assist with the liquidation process.
To reap benefits of the newly announced service, Mt Gox customers will have to become a Kraken user by creating an account here. After the account has been created, users will have to click on the “MtGox Claim” tab and follow the simple instructions. Kraken plans to provide the fund claimants with following benefits:
- Option to receive funds in the form of Bitcoin
- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%.
- Creditor claim and payout support with live chat and email
- A simple and smooth process from claim to payout
Kraken’s CEO Jesse Powell said, “We see our involvement in this process as an opportunity to restore faith in the community by showing what we need more of in the Bitcoin space – trusted leadership.”
The claim and payout process is open to Mt Gox customers all over the world, including the United States.