Mt.Gox creditors begin receiving payments

Mt.Gox, the Bitcoin exchange that collapsed nearly ten years ago, has begun paying funds to some creditors. Evidence of this comes from social-media posts.

A number of Reddit users in the thread r/mtgoxinsolvency said the platform is sending compensation in Japanese yen via PayPal.

“I just got paid,” stated by the user under the handle Free-End2543, attaching a screenshot of a document containing the payment receipt.

Another user also reported receiving funds from Mt.Gox, noting that at first they mistook the email for spam.

Another Redditor was paid 0.125 BTC for about $200. According to him, the exchange still owes around $750.

On December 21, one of the first to report Mt.Gox payments was a Japanese user X under the alias Visvirial, who received funds via bank transfer.

Mt.Goxから弁済されてました！
最終弁済を選択したので、中間弁済だと思われます。
ちょうど10年かかりましたね。 pic.twitter.com/qDntG5Wssg

— びりある#全財産DeFi@????????????? (@visvirial) December 21, 2023

In November, the platform’s custodian Nobuaki Kobayashi assured clients that payouts would commence before year-end. He noted that compensation to creditors would be made in several tranches, including a base tranche, an early lump-sum, and an intermediate repayment.

Meanwhile, in September, the company moved the date of compensation forward by a year.

As reported, Mt.Gox clients have waited ten years for the return of their funds. The civil rehabilitation process began in June 2018. In 2021, the Tokyo court approved the plan proposed by the exchange.

The custodian presented the proposal for compensation in December 2020. In January 2021, the details of the plan became known, and in February the court approved it for subsequent voting.

It began on May 31 and ended on October 20. The compensation initiative was supported by about 83% of the exchange’s users.