Mt. Gox Creditors to Receive Repayments Soon, Trustee Plans Distribution of BTC, BCH, and Yen
Nobuaki Kobayashi, the trustee overseeing the Mt. Gox Bitcoin exchange’s estate, has initiated communication with rehabilitation creditors, indicating the imminent start of repayments. This development follows the notorious 2014 hack that resulted in the loss of 850,000 BTC.
As of November 21, Kobayashi began sending emails to rehabilitation creditors outlining the commencement of repayments, as per reports circulating on various social media platforms.
Kobayashi said in the email,
“The Rehabilitation Trustee plans to commence repayment to creditors shortly. The Rehabilitation Trustee is making efforts to commence repayments in cash within the 2023 calendar year. However, due to the large number of rehabilitation creditors who will receive repayment, the varying types of repayments, and the different preparation and processing times required to make the repayment, repayments will continue into 2024.”
According to snippets shared from the alleged email, the trustee plans to initiate the first round of repayments in cash during the year 2023. The email did not specify the exact timing of repayments for individual rehabilitation creditors but mentioned the intention to continue the process into 2024.
Rehabilitation Trustee Nobuaki Kobayashi said in the email,
“The specific timing of repayment to individual rehabilitation creditors is undetermined, and therefore, it will not be possible to provide advance notice to each rehabilitation creditor regarding the specific timing of their repayment.”
Mt. Gox, once a prominent Bitcoin exchange, faced a devastating cyberattack in 2014, leading to the loss of a significant amount of Bitcoin. Since then, the legal and rehabilitation processes have been protracted, leaving creditors eagerly
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