Mt. Gox expires creditor payment information registration deadline, prepares to start payment


Payment information registration deadline expired

Crypto asset (virtual currency) exchange Mt. Gox (Mt.Gox), which went bankrupt in 2014, reported on the 7th that the deadline for creditors to select a payment method and register payment destination information expired on the 6th. .

Until now, the deadline has been extended several times in consideration of the progress of registration, etc., but from now on, except when the rehabilitation trustee approves, it will be possible to select the method of payment, register the information of the recipient of payment, and change the content. cannot be changed. From now on, we will proceed with preparations for reimbursement.

The start of repayment of Mt. Gox is attracting attention from domestic and foreign cryptocurrency investors as it may lead to selling pressure for Bitcoin (BTC) and others. In the past, there was a view that repayment would start immediately after the above deadline, but Mt. Gox explained that it will take some time to start repayment.

connection: Mount Gox, soon to start repayment such as Bitcoin

The reason why it takes time is that the rehabilitation trustee will prepare for repayment, such as confirming the creditor’s registered details, consulting with banks, fund transfer companies, and virtual currency exchanges involved in repayment, and sharing information. For. The basic payment, interim payment and early lump sum payment are planned to be made by October 31 this year, but the specific timing of payment is undecided.

He also explained that this deadline may be extended with the approval of the court, considering the circumstances. He also said that some payments could be subject to other deadlines with court approval.

Concerns about selling pressure on cryptocurrencies

Mt Gox was hacked in 2011, leading to bankruptcy. More than 10 years have passed since then, and the creditors are finally approaching the realization of compensation.

According to data reported by the Rehabilitation Trustee in September 2019, Mt. 100 million yen).

Investors are concerned about selling pressure as these virtual currencies are repaid, but in March it was reported that the largest creditor did not choose “payment in money”. Some concerns have also been alleviated.

connection: Mt. Gox’s largest creditor, bitcoin scheduled to be repaid “not to sell” intention = report

What is Mount Gox

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

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