Mt. Gox repays some creditors, emails others to confirm accounts

Creditors of hacked crypto exchange Mt. Gox have been contacted by its trustee to confirm their account details, as the firm gears up to repay them, with at least two creditors reportedly receiving funds.

In an email sent to several creditors, Mt. Gox’s rehabilitation trustee has confirmed the existence of their accounts and indicated that repayments of bitcoin and bitcoin cash are anticipated.

“Please note that you may not be able to receive repayment in BTC/BCH if your account is disabled of frozen in the future,” the email warned.

Several creditors have shared their copy of the email on Reddit. It appears that Bitstamp users and several Kraken users have received the confirmation.

BREAKING: Mt. Gox confirms creditors' #Bitcoin addresses for repayment. Chances of 200,000 #BTC to hit the market over the next two months, per Reddit post pic.twitter.com/ABWLo6iPEw
— Simply Bitcoin (@SimplyBitcoinTV) January 23, 2024

One creditor in Poland and another in Japan report receiving their repayments. They say 80% of their claim was returned in US dollars via a bank transfer.

The first Mt. Gox creditor repayments began in December 2023, with several reportedly receiving their repayments twice. In September, the repayment deadline was extended by a year to October 2024. At the time, the Mt. Gox estate held 142,000 bitcoin (worth $5.5 billion at press time), 143,000 bitcoin cash ($32 million), and 69 billion Japanese yen ($466 million).

Mt. Gox was one of the first crypto exchanges. It once facilitated over 70% of all bitcoin trades before it collapsed in 2014. Around 24,000 creditors were affected and 850,000 bitcoin was lost.

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