One can register in the system and select an option until January 10, 2023

Mt.Gox creditors were given a choice of repayment methods

07.10.2022 - 07:30


2 min

What’s new? Bitcoin exchange Mt.Gox, which went bankrupt in 2014, has released new information about its customer refund process. According to the October 6 announcement, creditors can select their own repayment method and register their payee information in the online claim filing system. The deadline for selecting and registering is January 10, 2023.

Mt.Gox’s announcement

What else 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 creditors do not sign up by January 10, 2023, 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.

Mt.Gox situation. 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.

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