Bankrupt Mt.Gox exchange delays the deadline for the refund to customers

The deadline was moved from July 31, 2023, to September 30

06.01.2023 - 11:40

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What’s new? Bitcoin exchange Mt.Gox, which went bankrupt in 2014, moved the deadline for distributing funds to users from July 31 to September 30, 2023. In October, creditors of the trading platform were given the option to choose how to repay the debt. They can sign up for the system and select an option until January 10, 2023.

Mt.Gox’s statement

What is known about repayments? In the system, creditors can see notices of changes to the reimbursement plan and acquisition of permission regarding payments, information about the exchange’s financial position, and income and expenditure statements. If lenders do not sign up by the specified deadline, they will not be able to qualify for repayments as early lump sums, partial repayments in cryptocurrency, or repayments via wire transfer or service provider.

What happened to Mt.Gox? The cryptocurrency exchange declared bankruptcy after a hack attack that caused users to lose 744 000 BTC. In 2020, trustee Nobuyuki Kobayashi presented a plan to reimburse creditors. At the time, the Mt.Gox wallet held 137 891 BTC (about $2,73 billion at the Binance rate on October 7, 2022), which was planned to be used for payouts. Some members of the community repeatedly raised concerns that the start of payments would put a lot of pressure on the bitcoin rate.

On April 1, bitcoins worth $319 million were transferred from the wallet of the hacked Mt.Gox exchange. 6800 BTC was transferred to an unknown address.

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