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With Billions of Dollars in Debt, Mt. Gox Accidentally Makes a Double Refund - Coin Bulletin
Bankrupt cryptocurrency exchange Mt. Gox appears to be paying some of its creditors twice.
According to Reddit posts, Mt. Gox recently began reimbursing the exchange's creditors in Japanese Yen via PayPal.
Some users have said that the exchange has paid them twice. Mt. Gox has acknowledged this issue and users who have been paid twice have been asked to refund the second payment.
In an email purportedly from Mt. Gox, "You have been mistakenly charged twice due to a problem with the system." * message. It was emphasized that users have a legal obligation* to refund the second payment made.
Founded in 2010, Mt. Gox was the world's largest cryptocurrency exchange before the 2014 hack of 850,000 Bitcoins. About 20 percent of the stolen money was recovered.
If Mt. Gox starts making a refund, it could put selling pressure on the price of Bitcoin. However, according to UBS's research, this is not expected to create an imbalance in the market.