Customers of the defunct Japan-based Bitcoin exchange Mt. Gox in the United States (US) and Canada have agreed to settle their class action lawsuits claiming the company defrauded them, according to a report.
Reuters reports the complainants have entered into a deal with Sunlot Holdings, which plans to buy the exchange, and regain their share of currency still held by Mt. Gox.
The complainants will receive a 16.5 per cent stake in Mt. Gox after Sunlot purchases the exchange, in return for dropping their lawsuits.
The customers will also split the 200,000 bitcoin found by the exchange this year as well as US$20 million in flat currency being held by the current Mt. Gox administrator.
HumanIPO reported last week a Tokyo court had initiated Mt. Gox’s liquidation proceedings after the company asked for bankruptcy protection during a rehabilitation process.
The company filed for bankruptcy in February shortly after ceasing operations following a series of denial of service (DoS) attacks.
The company reported a loss of currency as a result of the attacks, prompting investigations by US and Japanese officials.
