Mt.Gox Trustee Opens Payout Window for Creditors
The trustee of Mt.Gox, Nobuyaki Kobayashi, has opened the payout window for creditors after the deadline for filing the relevant documents has expired.
According to a letter from Kobayashi, the period will last until October 31, 2023. However, the process is expected to take some time, as Kobayashi is in the process of negotiating payments with financial institutions, including crypto exchanges, who will distribute the funds to creditors.
Mt.Gox currently holds 142,000 BTC ($3.9 billion), 143,000 BCH ($17.9 million) and ¥69 billion ($523 million) — “~20% of the hack.”
The civil rehabilitation process for Mt.Gox was started in 2018 after the largest crypto exchange crashed in 2014 due to the alleged theft of 800,000 BTC ($480 million at the time).
In 2020, Kobayashi submitted a plan to the Tokyo court to recover funds from creditors, which was approved. At that time, 137,891 BTC were stored on the platform wallet. Preparations for the payment of compensation began in July 2022.
