Once the largest exchange of its time, Mt. Gox filed for bankruptcy in 2014 after approximately 850,000 Bitcoins were stolen. Following this, the Mt. Gox trustee initially announced in April that the repayment process would commence in October 2023.
Repayment Date Extended to 31 October 2024
Following Mt. Gox’s bankruptcy, there has been a significant change in the repayment date to creditors by the exchange’s trustee board. The trustee board chairman, Nobuaki Kobayashi, officially announced that the repayment date for Mt. Gox creditors has been extended from October 31, 2023, to October 31, 2024.
Furthermore, within this process, there are various payment options available, including base payments, early lump-sum payments, and interim payments. This new date will provide an additional period for creditors to receive the expected payments.
“Repayments to creditors who provide the necessary information will be made sequentially by the end of this year.”Nobuaki Kobayashi
Finally, Mt. Gox currently holds 69 billion Japanese yen, 143,000 BCH, and 142,000 BTC (valued at 3.8 billion dollars). Additionally, Mt. Gox announced in April that each creditor would receive their initial payment in cash, up to the value of 200,000 JPY. However, if their claims exceed this amount and they prefer to receive a combination of cryptocurrency and cash, they will receive approximately 71% in cryptocurrency and 29% in cash.