If you have been around long enough in crypto, then you've probably heard about Mt. Gox and the largest loss of Bitcoin and customer funds in history. over 700,000 BTC were lost in the hack that could have killed crypto before it had the chance to take shape and permeate world finance and economics.

At its peak, Mt. Gox accounted for 70% of the entire Bitcoin market. The TLDR of what happened is that Mt. Gox was hacked. In a press conference held in Tokyo in February 2014, former CEO Mark Karpeles said "We had weaknesses in our system, and our bitcoins vanished ". If you want to know what happened, read it here.

Over the last few years, the MtGox Rehabilitation Trustee has begun distributing payments to recipients. Currently, there are 142,000 BTC and 143,000 BCH as well as nearly half a billion USD in fiat, all waiting to be repaid to those who were victims of the hack.

In September of 2023, the MtGox Rehabilitation Trustee delayed the repayments with a deadline of October 2024. Bitcoin went up 5% the day of this news (BTC was in the low 20ks at the time), likely due to the positive sentiment of all the Bitcoin supply being ‘locked’ for another year. Well, the time for those repayments is finally here, according to the Rehabilitation Trustee

Now is a good time to return to your core thesis - what is it that you believe about crypto and Bitcoin? Why are you holding what you’re holding, and are you willing to hold it through more volatility? If the answer is no, your holdings may require some tweaking until that answer is yes.

I doubt anyone from Africa was affected by the hack but you can never be so sure. A lot of hopium and FUD will enter into the market as the repayment of lost funds commences. It's in your best interest to hold off from all trading, take a couple of breaths and just watch from the sidelines. There's no need for you to get active, especially with the market going through a lull at the moment. The best play is to stay safe.