Creditors of Mt. Gox Exchange Receive Email Hinting at Repayments

What You Need to Know:

Creditors of the now-defunct Bitcoin exchange, Mt. Gox, have reportedly received an email suggesting that repayments may be on the horizon. The trustee overseeing the exchange's estate, Nobuaki Kobayashi, started sending out emails to rehabilitation creditors, stating that repayments will begin in cash in 2023. However, specific timing for individual creditors was not provided.

Repayments to Continue into 2024

According to the email circulating on social media, Kobayashi expects repayments to continue into 2024 due to the large number of rehabilitation creditors and the varying types of repayments. This news comes after the Mt. Gox trustee announced the redemption of trust assets, receiving 7 billion Japanese yen ($47 million) to fund the repayment of claims. The remaining trust assets amount to 8.8 billion JPY, or roughly $59 million.

Repayment Deadline Extended

The original deadline for the repayment of Mt. Gox creditors was October 2023. However, the trustee officially moved the deadline to October 2024 in September 2023. This development is an ongoing story, and more information will be provided as it becomes available.