Bitcoin

<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p>Mt. Gox, a failed Bitcoin exchange, <a href="https://www.mtgox.com/img/pdf/20230921_announcement_en.pdf">has announced</a> a considerable postponement in its repayment plan to its creditors. The official notice comes from <a href="https://u.today/mtgox-announces-new-payment-selection-deadline-keeping-investors-on-edge">Nobuaki Kobayashi,</a> the appointed rehabilitation trustee for the now-defunct exchange.</p>
<h2 id="unpacking-delay">Unpacking delay</h2>
<p>The anticipated base repayment, early lump-sum repayment and intermediate repayment, all previously slated for Oct. 31, have been rescheduled for a year later, to Oct. 31, 2024.&nbsp;</p>
<p>The change, approved by the Tokyo District Court, arises from the necessity for more time for rehabilitation creditors to provide essential details, and for the trustee to verify this information and coordinate with associated banks, fund transfer service providers and cryptocurrency exchanges.</p>
<p>Nonetheless, there is a silver lining. <a href="https://u.today/mt-gox-creditor-denies-fake-report-about-imminent-release-of-140000-btc">Creditors</a> who have promptly provided necessary data might begin receiving their repayments sequentially as soon as the close of this year.</p>
<p>However, the exact timing remains undetermined, and the schedule could potentially undergo further adjustments.</p>
<h2 id="mt-gox-saga-continues">Mt. Gox saga continues</h2>
<p><a href="https://u.today/former-mt-gox-ceo-mark-karpeles-makes-important-statement-to-its-creditors-details">Mt. Gox</a> was once the largest <a href="https://u.today/bitcoin-btc-index-shifts-first-time-in-months-what-does-it-mean">Bitcoin</a> exchange in the world. The platform faced its downfall in 2014 when it declared insolvency after a massive hack, resulting in a loss of around 850,000 Bitcoins.</p>
<p>Since then, it has been a tumultuous journey for both the exchange and its creditors, filled with legal battles and extensive delays. The rehabilitation process aims to repay those who lost funds during the hack.</p>

Mt. Gox Announces Major Repayment Delay

Table of Contents

U_Today

Other articles published on Sep 21, 2023

Bank of Russia wants to ‘avoid super-close attention’ with CBDC

Uranium3o8, the First-Ever Uranium Backed Token

India Ranks Second Globally in Crypto Transaction Volume

Gate.io Answer&Earn Free Coin

FTX Granted Legal Authorization for Billion-Dollar Crypto Liquidation: What It Means for Borroe.F...

HLX Stock Forecast: Will Helix Stock Reach the Target of $15?

Join our free newsletter for daily crypto updates!