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Mt. Gox to Initiate Repayments in 2023 After Collapse

Mt. Gox is ready to initiate repayments to its creditors in 2023, nearly a decade after its collapse.

The repayments, specified in cash, exclude the possibility of returning bitcoins to the creditors.

The repayment process, involving large sums and numerous creditors, is expected to continue until 2024.

Remboursements tant attendus de Mt. Gox

Mt. Gox is finally ready to begin repaying its creditors this year, a significant development following multiple delays. Nobuaki Kobayashi has confirmed in an email to the creditors that those whose repayment claims have been approved will receive cash payments. The process, set to start somewhere in 2023, will extend until 2024 due to the complexity and volume of transactions.

Détails du plan de remboursement

The specific schedule for individual repayments remains undetermined, given the large number of creditors and various types of repayments involved. The rehabilitation plan notably mentions cash repayments, excluding the distribution of BTC, despite the exchange holding significant Bitcoin assets.

Launched in 2010, Mt. Gox quickly dominated 70% of global Bitcoin exchanges. However, the exchange faced a catastrophic hack in 2014, losing 850,000 Bitcoins and subsequently filing for bankruptcy. Recent developments include charges by the US Department of Justice against individuals allegedly involved in the Mt. Gox hack, accused of stealing approximately 647,000 Bitcoins.

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