(Bloomberg) – Creditors trying to win back Bitcoin lost on the Japanese exchange. Gox has the option to reclaim its digital assets in 2014 before legal claims are resolved.

CoinLab Inc. said an agreement with Nobuaki Kobayashi, the trustee of Mt.

The plan must be approved by creditors, and investors are not required to make the early payment and can wait for the litigation to be resolved, CoinLab said in a statement Friday.

Based in Japan, Mt. Gox was once the world’s largest bitcoin exchange until it closed in early 2014 after losing roughly 850,000 bitcoin to thousands of customers. Many of these digital coins have now been found and a trustee is working to repay the creditors. The reimbursement has been bogged down in court cases for seven years.

CoinLab was co-founded in 2012 by Peter Vessenes, who also co-founded the Bitcoin Foundation and has been conducting security reviews for blockchain networks, including Ethereum, since around 2015. Venture capitalist Tim Draper was an original investor in CoinLab. CoinLab is not part of the settlement and is said to be continuing its litigation.

“I’m thrilled that the people are finally being paid by the mountain. Gox, ”Draper said in the statement. “As Mt. The Gox creditors are some of the earliest supporters of the cryptocurrency. I look forward to receiving my bitcoin, as do the tens of thousands of people who have claims. “

Bitcoin, which was released on the day Mt. Gox filed for bankruptcy, hit an all-time high earlier this year at $ 41,982. At 1:42 p.m., the price fell 8% to $ 35,554 in New York, according to a price collection compiled by Bloomberg.

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