Popular in the early days of cryptocurrencies Bitcoin stock exchange Mt. goxannounced that there was a significant delay in the repayment plan it had promised to creditors.
Currently inactive Mt. Gox announced a significant delay in its repayment plan to its creditors. The official notification came from Nobuaki Kobayashi, the trustee appointed for the now-defunct exchange.
The basic repayment, early lump sum repayment and interim repayment, which were previously planned to be made on October 31, were postponed one year later, to October 31, 2024.
The change, approved by the Tokyo District Court, comes as more time is needed for creditors to provide basic details and for the trustee to verify this information and coordinate with relevant banks, fund transfer service providers and cryptocurrency exchanges.
However, positive expectations continue. It looks like creditors who provide the necessary data immediately will be able to start receiving their refunds in order by the end of this year. However, the exact timing has not yet been determined and the program could potentially be subject to further adjustments.
As we reported as Koinfinans.com, Mt. Gox was once the largest Bitcoin exchange in the world. The platform suffered a collapse in 2014, declaring bankruptcy following a major hacking attack, resulting in the loss of approximately 850,000 Bitcoins.