• Mt. Gox rehabilitation trustee, Nobuaki Kobayashi, has announced that the deadline for creditors to submit their repayment information has passed and the repayments are expected to be made by October 31, 2023.
• The trustee is currently engaging in discussions with banks, money transfer providers and cryptocurrency exchanges or custodians involved in the repayment to prepare for it.
• Over 141,686 Bitcoin (BTC), about 143,000 Bitcoin Cash (BCH) and 69 billion yen will be reimbursed to victims of the Mt. Gox hack.
Mt. Gox Bankruptcy: Deadline For Repayment Information Passed
The rehabilitation trustee of the exchange Mt. Gox that went bankrupt in 2014, Nobuaki Kobayashi has published a new letter today regarding the repayments of the recovered Bitcoin. In it, Kobayashi informs that the deadline for creditors to submit their repayment information passed yesterday, April 6th 2023. After several years of delays, the window thus opens for Bitcoin repayments which are expected to be made by October 31st 2023.
Repayment Preparations In Progress
The letter also states that the rehabilitation trustee is currently making necessary preparations for the repayments which include contacting banks, money transfer providers and cryptocurrency exchanges or custodians involved in the repayment to clarify repayment arrangements as well as confirming selection and registration made by creditors themselves. In light of this situation it is expected to take some time before actual repaying starts and payments may even be extended if needed with approval from Tokyo District Court until October 21st 2023 at least but exact timing hasn’t been determined yet.
Bitstamp Selected To Help With Repayments
Remarkably Luxembourg based crypto exchange Bitstamp has been selected among four crypto exchanges chosen by Mt. Gox trustee to help with repaying process where they have been publishing guidance on what creditors should do lately in order make their claims valid too.
Amount Of Refunds Still Uncertain
The amount of refunds is still not clear since creditors were able to choose whether they want their claim paid out in cryptocurrencies or fiat until last week’s deadline had passed either way over 141,686 Bitcoin (BTC), about 143 000 Bitcoin Cash (BCH) and 69 billion yen will be refunded according to original plan set up after bankruptcy happened back in 2014 when hundreds thousands Bitcoins were stolen from investors’ accounts then through hack attack . On top of that first 200 000 yen (~$1520) will be refunded fully without any deductions no matter what kind of currency was chosen during filing process earlier at all .
Conclusion
Overall it looks like exact date when repayment procedure begins is still uncertain although there’s already a timeline with certain deadlines set up so far however further news updates are likely coming soon enough while we wait more details on how much victims of Mt Gox Hack will actually receive later this year once everything related procedures finish up finally too .