Mt Gox’s Bitcoin Creditors Have 4 Days To Submit Rehabilitation Claims

The sad story of Mt Gox may be coming to an end soon. The Japanese exchange, which was once one of the biggest in the world before it went bankrupt, may have its sad tale ending soon if everything goes right this time.

Clients of Mt Gox can submit their claims to receive their trapped funds until October 22. The exchange opened the process in August after the bankruptcy battle was protracted. As the people who wanted their Bitcoin back won a major victory in court and the bankruptcy was shifted to civil rehabilitation, the hopes of people who wanted their money back saw a new light.

Now creditors can file for their crypto holdings instead of the equivalent in fiat currency in 2014 when the exchange was shut down. At the time, Bitcoin was worth less than $600 USD but it has been valued at around $6,500 USD lately, about eleven times its value then.

Mt Gox’s trustee Nobuaki Kobayashi will have three months to file a statement of approval or rejection of the claims as soon as they are finished, which can mean the definitive end of the issues.

While the credits can file for their Bitcoins instead of money, they cannot claim the funds yet as they have been frozen since 2014. However, it looks like they might be able to do it soon and this would finally solve the trainwreck which began four years ago.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

252 +