Mt. Gox to extend payment due date to creditors

Start of repayment will also be extended

The crypto asset (virtual currency) exchange Mt.Gox, which went bankrupt in 2014, received court approval on the 9th and set a deadline for selecting a payment method and registering payment recipient information in 2023. It reported that it was extended again on the 6th of the month.

In January this year, it was changed to March 10, but the deadline was extended by about a month. There is a view that Mt. Gox’s repayment may lead to selling pressure for Bitcoin (BTC), etc., and there is growing interest in the expectation that repayment will be made as early as this month after the above-mentioned registration deadline. However, due to this change, the start of repayment will also be delayed.

connection: Mount Gox, soon to start repayment such as Bitcoin

Mt. Gox explained that the reason for the extension was due to consideration of “creditors’ selection of repayment methods and the progress of registration of repayment recipient information, etc.” The wording in the previous guidance, “We will repay as soon as possible after the new deadline has passed,” is not written this time, but since it has been extended further than last time, it will be announced on the 6th of next month. It is expected that repayments will begin as soon as possible after the deadline.

In addition, this time, he said, “It is basically difficult to extend the deadline any further unless there is an unavoidable reason,” and urged prompt procedures. Creditors who have already completed the payment method selection and payment recipient information registration will be able to revise their details until April 6th.

Along with this change, the deadline for basic repayment, early lump sum repayment, and interim repayment will also be changed from September 30, 2011 to October 31, 2011. If the procedures proceed according to this guidance, repayment will be made between April 6th and October 30th.

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interest in reimbursement

Mt Gox was hacked in 2011, leading to bankruptcy. It’s been a very long time, but the looming repayment is drawing more attention to the matter. Creditors will receive compensation more than 10 years after the hack.

At the same time, investors are increasingly worried about selling pressure. According to data reported by the rehabilitation trustee in September 2019, Mt. billion yen).

On the 9th, it was reported that one of the largest creditors, the Mt Gox Investment Fund (MGIF), has indicated that it will not sell the bitcoins that are due to be returned.

Also, earlier this month, it was reported that MGIF and another largest creditor, the exchange Bitcoinica (closed), had not opted for “monetary repayment,” thus alleviating concerns over a massive sale of bitcoins. ing.

connection: Mt. Gox’s largest creditor, bitcoin scheduled to be repaid “not to sell” intention = report