Mt Gox Bitcoin compensation claim deadline: BTC repayments next?
Mt. Gox, the infamous Tokyo-based crypto exchange that was hacked and consequently filed for bankruptcy in 2014, has announced the distribution date of funds to its former customers will be set in “due course”.
The notice was released by Mt. Gox trustee, Nobuaki Kobayashi.
In total, creditors are owed 141,686 bitcoin (BTC), 42,846 bitcoin cash (BCH) and JPY69.7bn. The hack itself resulted in the loss of 850,000 BTC.
At its height Mt. Gox was handling 70% of BTC transactions worldwide.
The notice stated: “The Base Repayment Deadline is set by the Rehabilitation Trustee with the permission of the court as the date deemed appropriate for repayment and will be set in due course.”
Mt. Gox claim deadline is days away
Creditors have also been given the deadline of 15 September to make or transfer a claim. Once that date has passed, claims and transfers will not be allowed to be processed by the rehabilitation system, and may result in delays or loss of funds.
All creditors will receive an initial base payment, and they can also choose to receive the remainder of their funds through an early lump sum payment or in a later payment. The later payment, however, will not be determined until all outstanding court proceedings are concluded.
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