Mt.Gox postponed compensation date by a year

Mt.Gox exchange: the largest hacker hack in the history of cryptocurrencies
Mt.Gox exchange: the largest hacker hack in the history of cryptocurrencies

The management of the bankrupt Bitcoin exchange Mt.Gox warned about the postponement of the deadline for payment of compensation – from October 31, 2023 to October 31, 2024.

According to the documents, the closed trading platform owns 142,000 BTC (~$3.8 billion), 143,000 BCH (~$30 million) and 69 billion yen (~$4.5 million).

For creditors who provide the necessary information, payments will begin to be made consistently at the end of this year.

Mt.Gox clients have been waiting for ten years to get their money back. The civil rehabilitation process started in June 2018. In 2021, a Tokyo court approved the plan proposed by the exchange.

The trustee submitted a proposal for reimbursement in December 2020. Details of the plan became known in January 2021, and in February the court approved it for a subsequent vote.

It started on May 31 and ended on October 20. The refund proposal was supported by about 83% of exchange users.

Previously, the investment company Fortress Investment Group offered Mt.Gox creditors to buy out their claims for 80% of the cost.

Let us recall that in March 2023, the ex-head of Mt.Gox Mark Karpeles announced the upcoming launch of the UNGOX crypto rating agency and the distribution of non-fungible tokens, which will only be received by clients of the hacked platform.

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