New Twist in Mt Gox Repayments: Creditors to Wait Until 2025
Nobuaki Kobayashi, the trustee in charge of overseeing Mt Gox’s remaining assets, has pushed back the deadline for creditor repayments by a year, now set for Oct. 31, 2025.
Mt Gox Trustee Postpones Repayment Deadline by One Year
In an announcement on Thursday, Kobayashi cited delays in distributing the funds recovered after the 2014 collapse of what was once the largest cryptocurrency exchange. His goal remains to ensure that all creditors receive their due, with approximately 44,900 BTC, valued at about $2.8 billion, still resting in Mt Gox-related wallets.
While the repayment process kicked off in July 2024 and a substantial portion of the $9 billion in recovered assets has already been distributed, many creditors are still awaiting their payments. The delays stem primarily from incomplete procedures or unforeseen issues during the repayment process.
Despite extending the deadline, Kobayashi stressed that efforts to speed up the process are ongoing. Mt Gox creditors with unresolved claims are encouraged to log in to the Mt Gox online claim system to resolve any obstacles standing in the way of their repayments.
This extension hints that, although significant headway has been made, the complexities surrounding the remaining claims continue to be a hurdle for the trustee. As creditors continue to wait for their long-anticipated repayments, this development serves as a reminder of the enduring impact of Mt Gox’s collapse.
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