Mt. Gox Trustee Extends Repayment Deadline to October 2024

Mt. Gox Trustee Extends Repayment Deadline to October 2024

By: Eliza Bennet

Rehabilitation trustee Nobuaki Kobayashi has officially delayed the repayment deadline for the defunct crypto exchange, Mt. Gox, by a year. Now, creditors can expect to be paid back by the exchange no earlier than Oct. 31, 2024. This change, granted by the permission of the Tokyo District Court, applies to the base repayment, early lump-sum repayment, and the intermediate repayment. It was announced by Nobuaki Kobayashi in a letter on Sept. 21. He also indicated that the schedule is subject to change depending on the circumstances, and the specific timing of repayments to each rehabilitation creditor has not yet been determined. At present, the Mt. Gox estate holds roughly 142,000 Bitcoin (BTC), 143,000 Bitcoin Cash (BCH), and 69 billion Japanese yen. Originally one of the pioneering crypto exchanges, Mt. Gox collapsed in 2014 following a major hack in 2011, affecting about 24,000 creditors.

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