Mt.Gox mistakenly sent double payments to creditors and called for partial refund

The exchange went bankrupt in 2014 and only began reimbursing customers in late December

27.12.2023 - 09:42

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2 min

What’s new? In late December, bitcoin exchange Mt.Gox began refunding funds to customers nearly a decade after going bankrupt. At the same time, as a result of a “system issue,” some users received double payments, and the manager of the platform asked to send back part of the amount. Thus, Reddit users publish screenshots of emails where Mt.Gox calls “immediately refund” repeated payments.

Cointelegraph’s material

What else is known? According to the text of the letter, “the transfer of money to you was inadvertently made twice,” and users are not entitled to receive it and are legally obliged to return half of the amount to the exchange’s manager, Nobuaki Kobayashi.

Some participants in the discussion intend to send the funds back, while others ironically note that they will do so only if the manager passes the identification procedure and waits ten years, just as the exchange’s clients were forced to do. Separately, users express indignation at the work of the manager, who for ten years could not figure out how to press a few keys.

That said, an actual refusal to refund the erroneously received funds would likely prevent users from claiming the full amount of the claim, as reimbursements under the plan are made in multiple stages. In addition, this may threaten legal consequences.

For example, there are two known cases of criminal prosecution of Crypto com users who did not return millions of dollars received from the exchange by mistake. Both incidents occurred in 2021 in Australia. One customer received $10,5 million from the exchange and bought real estate with these funds, later the court ordered him to sell the property to return the funds. The other user received $6,95 million and was charged with theft, so far he has been released on bail.

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