Kraken to honor Mt. Gox bitcoin claims

Kraken, a San Francisco-based bitcoin exchange, has agreed to be a trustee and help the victims of the collapse. It's been more than a year that reported a loss of 850k BTC due to theft, fraud, negligence and mismanagement. The creditors of will be required to create Kraken accounts for distribution of bitcoin by the trustee.

"We see our involvement in this process as an opportunity to restore faith in the community by showing what we need more of in the Bitcoin space - trusted leadership," said Kraken CEO Jesse Powell. "We're dedicated to delivering an exceptional experience. What is that? It's fast execution and reliable service - all done over a secure platform. Whether you're a long-standing client or trying us for the first time, we're committed to putting your best interests first. That's our philosophy. It's simple. Put people first."

At present, the exchange is accepting claims up to $1 Million in free trade volume per creditor as a bonus for claiming funds through it, irrespective of location.  

"Thanks to Kraken, filing of claims can be done through their system," said the MtGox trustee. "We expect this to enable smooth filing of bankruptcy claims and distributions."