Up To 200,000 Bitcoins From Mt. Gox Can Be Recovered Says Russian Lawyers

Must Read

Bitcoin Sees an Influx of Retail Interest with Investors Doubling Down on HODLing

After tumbling down to below $6,500 yet again, Bitcoin went back above $7,000 in...

Grayscale Reports Q1 2020 Quarter, Hedge Funds Buying Bitcoin Dips

The Q1 2020 was all about significant volatility after we started a new year...

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Russian law firm Zheleznikov and Partners proposed legal action in Russia that should enable its lawyers to recover up to 200,000 Bitcoin (BTC) lost in the Mt. Gox fiasco.

Recover losses on behalf of Mt. Gox victims

On Sept. 12 in a Q&A with Andy Pag, a former BBC journalist, the Moscow law firm outlined its proposal to recover close to $2 billion in BTC on behalf of the victims of the hack of the now-defunct Mt. Gox exchange, which according to its lawyers has the promise of making the Mt. Gox victims whole.

Lawyers of Zheleznikov and Partners believe that thanks to the close cooperation with law enforcement they can recover up to 200,000 BTC by taking legal action against Russian nationals who got the stolen money. The Russian legal team pointed out that some of these individuals have already been identified, but added:

“We want to make clear that we do not yet know the identities of all persons. We have strong reasons to believe that their identities will be revealed by the police investigation bringing existing information together, but we hope that once the criminal case starts they will come forward quickly and offer to give compensation to victims.”

Law firm will charge creditors up to 75% percent of recovered sum

This proposed recovery of the stolen BTC coins doesn’t come cheap, as the law firm wants to charge creditors up to 75% of the recovered sum. The Russian legal team does add that the company will only accept payment in the event of a successful recovery. 

The mess that was Mt. Gox

Coinworld360 previously reported that Mt. Gox holds its infamous part of Bitcoin’s history as the once biggest cryptocurrency exchange that went under in a cloud of confusion and anger. In February 2014 the exchange slowly started to capitulate, ending in the company filing for bankruptcy. Mt. Gox stated at the time that almost 750,000 of its customers’ Bitcoins, as well as 100,000 of its own Bitcoins, had been stolen. The total loss constituted around 7% of all Bitcoins available, worth around $473 million at the time.

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...

WorldMarkets continues with the success of its trading artificial intelligence

Today we live in the information age, and access to information is unlimited. And that produces the paradox of misinformation. That's why...

MyTvchain.com Records Growth for The First Blockchain ​​Web Tv Platform Dedicated to Sport Clubs And Athletes

Sophia Antipolis (France) and Singapore: The first web TV platform dedicated to sports clubs and athletes opened in...

Crypto-Broker Instacoins Receives Operating License in Estonia

Instacoins Estonia OÜ, a cryptocurrency brokerage, is pleased to announce it has received an operating license from the Estonian Financial Intelligence Unit (FIU). The...