Nobuaki Kobayashi, the Tokyo bankruptcy court trustee of the failed Japanese bitcoin exchange Mt Gox, has released a letter requesting creditors to register their claims for repayment by March 10, 2023 (Japan time) The letter was sent to the following address. Kobayashi explained that he is responding to “numerous inquiries” and that if creditors ask questions about the procedure, he may not be able to respond in time.
Final deadline for Mt Gox Trustee Shares Creditor Registration
The Mt Gox saga appears to be nearing a conclusion as the rehabilitation committee and bankruptcy trustee of the Shibuya-based bitcoin exchange have outlined the repayment process; the exchange, which started in 2010, ceased operations in February 2014 after 800,000 bitcoins were stolen and filed forbankruptcy. Since then, 200,000 bitcoins have been recovered and that amount, along with the corresponding bitcoin cash (BCH) funds tied to bitcoin, has been used to repayMt Gox creditors.
In aletterdated March 7, 2023, Kobayashi stated that creditors must register their claims by March 10, 2023 (CST) and that those who miss the deadline “will not be eligible for any repayment,” per the letter. Options for repayment include early lump-sum payment, payment in cryptocurrency, payment by bank transfer, or payment by a funds transfer agent. The trusteesold35,841 BTCand 34,008. 2017 and 2018 BCH, some creditors will be paid in fiat.
Mt. Gox’s claims portal allows people to inquire, but the letter warns that Mt. Gox’s rehabilitation team “may not be able to respond in a timely manner.” According to the rehabilitation committee’sdocument, the remaining Mt. Gox creditors have access to $510 million worth $69 billion and 142,000BTCworth $3.1 billion at current exchange rates and 143,000BCHworth $17 million at current exchange rates.
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