Creditors of the now-defunct Bitcoin (BTC) exchange Mt. Gox, which reportedly lost 850,000 BTC to a hack in 2014, have received a new email suggesting repayments are imminent.
On November 21, Nobuaki Kobayashi, the trustee responsible for overseeing the Mt. Gox Bitcoin exchange estate here we go According to multiple social media reports, emails were sent to restructuring creditors regarding the start of repayments.
According to the alleged Kobayashi email circulating on social media, the trustee plans to begin making the first cash repayments to creditors in 2023. Kobayashi expects to continue repaying the loan in 2024, but did not provide a specific time for repayment to personal restructuring creditors. According to the email:
“Due to the large number of restructuring creditors who will be repaid, the types of repayments are different, and the preparation and processing time required for repayment is also different. Repayments will continue until 2024.”
Social media reports published as trustees of Mt. Gox release An announcement was made on November 22 regarding the redemption of trust assets. Rehabilitation trustees received 7 billion yen ($47 million) in redemption funds to repay claims, according to official documents. The statement pointed out that the trust assets after redemption amounted to 8.8 billion yen, approximately US$59 million.
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The Mt. Gox trustee had previously expected to repay the exchange’s creditors by the end of October 2023. In September 2023, the trustee officially postponed the repayment deadline to October 2024.
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This is a developing story and more information will be added as it becomes available.
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