Mt.Gox extends deadline for registration of creditor payment information

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Change each due date

Mt. Gox, a crypto asset (virtual currency) exchange that went bankrupt in 2014, received court approval on the 6th and set a deadline for creditors to select a payment method and register payment recipient information. , announced that it was changed from January 10, 2023 to March 10, 2023.

Regarding the reason for the change, it was explained that the creditor’s progress in the above procedures was taken into account. Along with this change, we also reported that the deadline for basic repayment, early lump sum repayment, and interim repayment were changed from July 31, 2011 to September 30, 2011.

Mt. Gox, which went bankrupt after being hacked in 2011, is proceeding with a restructuring plan. If the repayment is completed as it is, the creditors will receive compensation for about 10 years, but investors have been wary that repayment may lead to selling pressure.

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Mt Gox is believed to hold about 140,000 BTC (equivalent to 310 billion yen at the current rate) in Bitcoin (BTC). Last year, creditors denied the speculation that a large number of payments would be made all at once, prompting some to fear there would be significant selling pressure in the market. rice field.

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Procedural notes

A system for selecting payment methods and registering payment recipient information was released in October last year. From this explanation, it became clear that the creditor’s procedures were not progressing as expected.

If the obligee does not complete the procedure by the deadline, it will not be possible to receive the following repayments.

  • early lump sum repayment
  • Payment in virtual currency for part of virtual currency rehabilitation claims
  • Payment by bank transfer
  • Repayment using remittance by a funds transfer service provider

Also, depending on the case, it is possible that the necessary documents will be brought to the head office of Mt.

In order to make payments as soon as possible after the new deadline, the Rehabilitation Trustee explained that after posting this guidance, he would start selecting the payment method and confirming the details of the registration of the payment recipient information. ing.

association: Mt. Gox Posts Information on Transfer of Rehabilitation Claims, etc.

What is Mount Gox

A Tokyo-based cryptocurrency exchange that operated from 2010 to 2014. It was closed due to hacking damage, and this led to the custom of “GOXing” when the exchange was hacked or the virtual currency was lost due to erroneous transmission.

▶Cryptocurrency Glossary

The post Mt.Gox extends deadline for registration of creditor payment information appeared first on Our Bitcoin News.

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