- Mt. Gox’s Trustee has completed the process of registering its creditors before paying them back.
- The trustee will make preparations and carry out the necessary verifications before commencing repayment.
- The repayment process is expected to be completed by October 31, 2023.
The creditors of Mt. Gox are one step closer to accessing their funds after the defunct Bitcoin exchange’s Trustee completed the registration process prior to initiating the refund. The deadline for registering creditors has passed and all creditors are expected to be repaid in the next six months.
Mount Gox may extend the repayment schedule
According to a rack released by the Mt. Gox Trustee, the refund window is now open. Nobuaki Kobayashi, the Rehabilitation Trustee overseeing the repayment process, stated that starting the repayment process may take some time due to all the necessary preparations and verifications that need to be done.
Going forward, the Trustee will contact banks and crypto exchanges to share information related to the registration and refund process. Basic redemption, interim redemption and early redemption are expected to be completed by October 31, 2023. However, the exact timing of repayment to each rehabilitation creditor is yet to be determined.
“Please also note that taking into account various circumstances, the above deadline may be extended with the permission of the Tokyo District Court, or a different deadline may be set for some refunds with the permission of the Tokyo District Court.”
Mt. Gox’s rehabilitation manager.
The latest development in the defunct Japanese Bitcoin exchange’s repayment process comes six months after the trustee opened the registration window for creditors to provide the necessary information to access their funds. About 10,000 creditors have submitted their preferred repayment method (fiat or crypto) and information about their bank account/wallet address.