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Mt. Gox trustee Nobuaki Kobayashi has formally revised the repayment deadline for the exchange’s creditors from Oct. 31, 2023, to Oct. 31, 2024.
In a letter dated Sept. 21, Kobayashi stated that, with the approval of the Tokyo District Court, he had prolonged the deadline for the base repayment, the early lump-sum repayment, and the intermediate repayment.
Notice concerning the change of repayment deadlines. Source: Mtgox.com
Moreover, Kobayashi indicated that repayments for rehabilitation creditors who have submitted the required information will commence sequentially as early as the end of this year.
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“Please be aware that the schedule may be altered based on circumstances, and the exact timing of repayments to each rehabilitation creditor has not yet been finalized,” Kobayashi remarked.
Currently, the Mt. Gox estate possesses approximately 142,000 Bitcoin (BTC), 143,000 Bitcoin Cash (BCH), and 69 billion Japanese yen.
Mt. Gox was among the first cryptocurrency exchanges, previously handling over 70% of all transactions conducted within the blockchain ecosystem.
After a significant hack in 2011, the platform ultimately collapsed in 2014 due to alleged insolvency; the incident impacted around 24,000 creditors and led to the loss of 850,000 BTC.
This is an evolving story, and additional details will be provided as they emerge.
