Mt. Gox Repayment In Preparation, Details and Timeline Lacking
On August 31, Mt. Gox published an official update from the court trustee Nobuaki Kobayashi saying it is “currently preparing to make repayments” to creditors.
It has been years in the waiting for Mt Gox creditors to get access to the bitcoins held by the court in Tokyo. The website’s claim process explains that payments in Bitcoin (BTC) will be made through an exchange designated by the rehabilitation custodian:
In order for a rehabilitation creditor to receive payment in bitcoin, it will be necessary to register as a user at such designated [exchange].
The trustee’s update states September 15 as the starting date of the process, however does not mention an end date, rather refers to it as the ‘Base Repayment Deadline’.
Last week, rumors flooded news headlines and social media platforms about the 140K Bitcoin being released soon, ignited by a Bitcoin whale transferring 10,000 BTC which likely originated from the June 2011 Mt. Gox hacks.
The creditors process has been stalled numerous times, and no one knows exactly when the repayment process will take place. Official updates such as dates, and the name of the cryptocurrency exchange that will distribute the assets, will still need to be provided.
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Source: igaming
