Prosecutors settle lawsuit against Mt. gox

US and Canadian customers of Mt. Gox, who filed a class action lawsuit against the bitcoin exchange, have agreed to a bailout for the exchange and settle the case. Customers may now get some of their lost bitcoins back.

The users settled with Sunlot Holdings which previously announced Mt. to want to save Gox. Once the closed bitcoin exchange is sold to Sunlot, US and Canadian customers will own a 16.5 percent share of the exchange. Furthermore, under all Mt. Gox users the 200,000 bitcoins Mt. Gox found after filing for bankruptcy and the $20 million in regular currency currently with the stock exchange manager to be distributed.

According to Reuters, Sunlot would have proposed Mt. Gox for one bitcoin, currently converted just under $500. The investors still have to get approval from the Japanese court. The settlement itself also has yet to get the green light: It will be submitted to US and Canadian courts overseeing these types of class action lawsuits. In a class action lawsuit, large groups of people can be represented in one case relatively easily.

mt. Gox applied for a deferral of payment in February, after the stock market said it had lost millions of euros in bitcoins. Later it turned out to be due to a hacker attack. However, the stock market remained online after the discovery of the large-scale theft; the stock market was closed on 25 February.