Mt. Gox Trustee Submits $2.6 Billion Plan to Compensate Bitcoin Creditors

On Tuesday, December 15, the trustee of the bankrupt cryptocurrency exchange Mt. Gox, Nobuaki Kobayashi, after numerous delays, filed with the Tokyo District Court a plan to reimburse creditors.

The document’s text was not disclosed. In his statement, Kobayashi noted that he would explain the details to interested parties in a timely and proper manner.

“The Tokyo District Court will consider the draft civil rehabilitation plan and decide whether to proceed with further procedures,” wrote the Mt. Gox trustee.

Currently, the exchange’s wallet holds 137,891 BTC (about $2.6 billion at the time of writing).

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The Mt. Gox exchange filed for bankruptcy in 2014. The process of reimbursing creditors was launched in 2018, but Kobayashi repeatedly asked the court to modify the deadlines for providing the repayment plan.

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In April 2019, the exchange’s trustee notified users who had not claimed compensation that they would also receive funds. Some creditors sold their bitcoin rights to interested parties.

In October 2020, the Tokyo court extended the deadline for submitting the final civil rehabilitation plan for users to December 15.

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