overseeing Mt. Gox trustee Nobuaki Kobayashi has officially revised the deadline for repaying the exchange's creditors
Nobuaki Kobayashi, the trustee overseeing Mt. Gox's affairs, has officially revised the deadline for repaying the exchange's creditors. The previous deadline of October 31, 2023, has been extended to October 31, 2024, as stated in a letter dated September 21. This extension applies to the base repayment, early lump-sum repayment, and intermediate repayment, all with the approval of the Tokyo District Court.
Kobayashi also mentioned that, for rehabilitation creditors who have provided the required information, repayments may commence by the end of this year. However, he emphasized that this schedule is subject to change based on circumstances, and the exact timing of repayments to individual rehabilitation creditors remains undetermined.
As of now, the Mt. Gox estate holds a significant amount of assets, including approximately 142,000 Bitcoin (BTC), valued at $26,104 per BTC, 143,000 Bitcoin Cash (BCH), valued at $207 per BCH, and 69 billion Japanese yen.
Mt. Gox, once a dominant player in the early cryptocurrency exchange scene, facilitated over 70% of blockchain ecosystem trades. However, it suffered a major hack in 2011, leading to its collapse in 2014 amid allegations of insolvency. This incident had far-reaching consequences, affecting around 24,000 creditors and resulting in the loss of 850,000 BTC.