While still waiting to see what would happen with the bitcoins that were stolen from the Mt. Gox exchange, over a million clients will be able to mint NFTs for free to participate in a new business started by the exchange’s former CEO.
- Mt. Gox was once the most utilized cryptocurrency exchange with over one million reported users (back in 2014) and responsible for over half of the overall trading volume.
- However, it all turned sour following a hack against the platform that resulted in 850,000 bitcoin stolen in 2014 (200,000 were later recovered), and the company went bankrupt.
- What will happen to those funds remains a mystery until this day, with rehabilitation creditors still debating on the recovery plans. Nevertheless, the most recent reports suggested that investors could receive billions of dollars worth of BTC this year.
- In the meantime, Mt. Gox’s former CEO – Mark Karpeles – has decided to foray into another initiative focused on the cryptocurrency industry.
- As he announced in a recent interview, the new project – promptly named UNGOX – will be a service providing ratings for crypto exchanges and their security levels by checking key areas, such as technology, legal context, people, transparency.
- To get the initiative going and reconnect with his former customers, Karpeles will introduce a non-fungible token series. Users who had registered from July 17, 2010, until February 25, 2014, will be able to provide their account details and get an NFT for free.
- Once the review is completed, they will be airdropped the NFT, which will give them access to all UNGOX services for free. It’s worth noting that these digital collections are not related in any way to the conclusion of the Mt. Gox saga.