Mt. Gox Creditors: Asset Recovery and Payment Beginnings

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• Crypto exchange Mt. Gox, which has been inactive for a long time and lost 850,000 Bitcoins in a hacking incident in 2014, is once again offering hope for compensation to its creditors.
• A Reddit user shared a detailed email, stating that the email was sent from a submission-only email address by the Rehabilitation Trustee.
• This email came after an announcement that the Mt. Gox trustee had received about $47 million (approximately 7 billion JPY) from the asset recovery process.

Bankrupt crypto exchange Mt. Gox’s email regarding repayments has surfaced: Payments may begin soon!

Mt. Gox Reveals Bitcoin Repayment Details

Crypto exchange Mt. Gox, which has been inactive for a long time and lost 850,000 Bitcoins in a hacking incident in 2014, is once again offering hope for compensation to its creditors. Nobuaki Kobayashi, the trustee overseeing Mt. Gox’s assets, sent an email to users on November 21, stating that he plans to start making compensation payments at the end of this year.

A Reddit user shared a detailed email, stating that the email was sent from a submission-only email address by the Rehabilitation Trustee. However, the email contained the following statement: “However, due to the large number of claims for compensation, different types of compensation, and the different preparations and processing times required for payments, payments will continue until 2024.”

Kobayashi mentioned that creditors do not need to take any action to receive payments at the moment but may need to update or provide additional information in the future. Users can check the details at claims.mtgox.com.

Asset Amount Reaches 8.8 Billion Japanese Yen

This email came after an announcement that the Mt. Gox trustee had received about $47 million (approximately 7 billion JPY) from the asset recovery process. The announcement stated that the amount of Trust assets was still over 8.8 billion Japanese Yen after the asset recovery process.

Creditors received news from the Rehabilitation Trustee months after the announcement of the compensation plan in April. At that time, the trustee mentioned that some early compensation payments could be expected before October.