Mt.Gox sets a new deadline for compensation claims

Creditors of the bankrupt cryptocurrency exchange Mt.Gox must register in a dedicated online system to receive compensation by 10 January 2023, according to the new document.

Users must provide recipient information and choose a payout method. For those who fail to supply all required data, compensation will be deferred.

A specific date or even a rough timeline for payments is not provided. According to The Block, payments are expected to begin by the end of 2023.

Mt.Gox, once the largest Bitcoin exchange, collapsed in early 2014 after reports of a suspected hack and the theft of 800,000 BTC ($480 million at the time).

The civil rehabilitation process was launched in 2018.

In 2020, Mt.Gox’s trustee Nobuaki Kobayashi filed a plan to reimburse creditors in the Tokyo court, which approved the document. At the time, the platform’s wallet held 137,891 BTC.

In August 2022, Mt.Gox creditors denied reports of compensation in the civil rehabilitation proceedings.

Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analysis.