Mt.Gox Extends Deadline for Claims and Repayment
On March 9, according to the latest email of Mt.Gox, with the consent of the court, the deadline for application for claims was changed from March 10, 2023 to …
On March 9, according to the latest email of Mt.Gox, with the consent of the court, the deadline for application for claims was changed from March 10, 2023 to April 6; The deadline for repayment was postponed from September 30, 2023 to October 31. The email said that it would be difficult to extend the deadline further unless there were unavoidable reasons. At present, the remaining amount to be paid by Mt.Gox is about 142000 BTC, 143000 bit cash (BCH) and 69 billion yen.
Mt.Gox extended the registration deadline of repayment scheme selection to April 6 again
Analysis based on this information:
The latest email of Mt.Gox has announced that the deadline for filing claims and repayment has been extended with court consent, in the case of the insolvency of this Tokyo-based Bitcoin exchange. As per the email, the deadline for submitting claims has been extended from March 10, 2023, to April 6, 2023, whereas the deadline for repayment has been postponed from September 30, 2023, to October 31, 2023. However, the email mentioned that extending the deadline would be difficult unless there were unavoidable reasons.
Mt.Gox was once the largest Bitcoin exchange in the world, handling over 70% of all Bitcoin transactions globally. However, things took a drastic turn in 2014, when the exchange filed for bankruptcy, after losing approximately 850,000 Bitcoins, worth around $473 million at the time. The collapse of the exchange not only had a significant impact on Bitcoin’s price but also left hundreds of thousands of Mt.Gox users devoid of their assets.
Since then, Mt.Gox has been under the investigation of the court and the trustee appointed for the bankruptcy. According to the latest email, the remaining amount to be paid by the exchange is approximately 142,000 Bitcoins, 143,000 Bitcoin Cash (BCH), and 69 billion yen. Although it is not clear how much of the debts will be paid to the creditors, the extension of the deadline for repayment is a positive indication that some efforts are being made to compensate the affected parties.
In conclusion, the extension of the deadline for claims and repayment by Mt.Gox indicates that the investigation is still ongoing, and it may take some time for the debts to be paid in full. The announcement also highlights the importance of security measures in the crypto industry, which has repeatedly suffered from hacking and fraudulent activities. The episode of Mt. Gox should serve as a reminder to crypto exchanges and investors alike, to remain cautious and vigilant in their activities within the industry.
Keyword: Bitcoin exchanges
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