Mt Gox Repayment Delayed Again: Creditors Await BTC, BCH, and Yen Payments Until 2024

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According to a new update from the Mt Gox trustee, Nobuaki Kobayashi, the repayment deadline for creditors has been pushed to next year. Kobayashi said discussions with banks, fund transfer service providers and designated cryptocurrency exchanges have caused delays, making it impossible to meet the original repayment deadline.

Mt Gox Trustee Delays Payments

Nobuaki Kobayashi, the Mt Gox trustee in charge of the funds owed to the exchange’s creditors, updated the public on September 21, 2023. According to the trustee, because of lengthy discussions with specific payment providers, Kobayashi could not make the October 31, 2023 deadline. Because of this reason, the repayments will start next year.

“Therefore, with the permission of the Tokyo District Court, the rehabilitation trustee has changed the deadline of the base repayment, the early lump-sum repayment, and the intermediate repayment from October 31, 2023 (Japan Time) to October 31, 2024 (Japan Time), respectively,” the letter from Kobayashi details.

Mt Gox creditors have waited nine years for payments. Currently, they are owed 141,686 BTC, 142,846 BCH, and 69,776,002,441 yen. Though the delay has been extended, creditors who have completed their claims might receive a payment by year’s end.

“Rehabilitation creditors who have provided the necessary information to the rehabilitation trustee will see repayments made in sequence as early as the end of this year,” the letter stated. However, this schedule could change. Kobayashi also said that due to a “high volume of inquiries” regarding the process, the rehabilitation team might not respond promptly.

What do you think about the Mt Gox trustee delaying payments once again? Share your thoughts and opinions about this subject in the comments section below.