The Japan-based cryptocurrency exchange Mt. Gox filed for bankruptcy in 2014 after losing $473 million worth of bitcoin at the time due to an apparent hack. Bitcoin reportedly experienced a subsequent decline in value, dropping by 36% over the month when this took place.
As per the report, Fortress executive Michael Hourigan has sent out a letter to creditors detailing the buyback offer. According an apparent copy of such a letter, Fortress has offered to buy the bitcoin claims back at approximately double the bankruptcy value.
The value of the claims at the time Mt. Gox was declared insolvent was reportedly $451, w…
Read the full article at: https://cointelegraph.com/news/report-fortress-offers-to-buy-mt-gox-bitcoin-claims-at-900-a-piece