Nobuaki Kobayashi, the trustee for Mt. Gox, has officially moved the deadline for repaying the exchange's creditors from October 31, 2023, to October 31, 2024.
In a letter dated September 21, Kobayashi explained that he received permission from the Tokyo District Court to extend the period for basic repayment, early one-time repayment, and mid-term repayment. He also noted that for creditors involved in the restructuring process who provide the required information, repayments may commence by the end of this year. However, Kobayashi emphasized that the schedule could change depending on various factors, and the specific timing of repayments to each restructuring creditor has yet to be determined.
Currently, the Mt. Gox estate holds around 142,000 Bitcoins, 143,000 Bitcoin Cash, and 69 billion yen.
Mt. Gox was one of the earliest cryptocurrency exchanges and at one point facilitated over 70% of all transactions within the blockchain ecosystem. However, after a major hack in 2011, the platform experienced a catastrophic collapse, leading to a suspected bankruptcy in 2014. This event affected approximately 24,000 creditors and resulted in the loss of 850,000 BTC.
