Mt. Gox extends the registration period for repayments by March 30th

Mt. Gox extends the registration period for repayments by March 30th

The creditors of the no longer existing cryptocurrency exchange Mt. Gox have received more time to select and register how you want to receive compensation from the company.

According to a document by the trustee of the stock exchange, Nobuaki Kobayashi, the registration period, which was previously set on January 10, 2023, was extended after approval by March 10 (Japanese time).

"The deadline for the selection and registration was January 10, 2023 (Japanese time), but after he received the approval of the court, the rehabilitation lighter has moved the deadline, taking into account various circumstances such as progress on March 10, 2023 (Japanese time) in relation to the selection and registration Trustee.

GOX shifts compensation period to September 30th

Kobayashi asked the creditors to complete the registration process before the new period has expired, and added that those who would not complete their selection would not receive compensation or possibly have to submit additional documents at the company's headquarters.

The trustee found that those who have already registered their selection do not have to do this again. Although you can change your selection before the new deadline has expired, the update has prevented creditors from doing so in order to make the confirmation process smoothly.

In addition, the extension had an impact on the distribution period, since the creditors would have to wait longer for compensation. The repayment period was postponed from July 31 to September 30, 2023.

"After the rehabilitation lighter received the approval of the court, he also has the basic repayment period, the premature flat -rate repayment period and the intermediate repayment period of July 31, 2023 (Japanese time) to change the deadline for the selection and registration."

mt. GOX believers receive billions

Meanwhile, Mt. Gox was insolvent in 2014 after it lost 850,000 bitcoins to hacker. Since then, the company has been working on repaying affected customers.

The value of the BTC stolen by the stock exchange was $ 473 million at the time of the incident, but the assets are worth over $ 14 billion at current prices. However, the trustee will not pay 850,000 BTC to the creditors because the stock exchange could not get the stolen assets back.

Nevertheless, it is expected that the creditors will receive more than 140,000 BTC worth around $ 2.3 billion.

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