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Bankrupt bitcoin exchange Mt.Gox has provided an update on its repayment process as part of its recovery plan. Trustee Nobuyaki Kobayashi announced that the payment is in preparation.
Bankrupt bitcoin exchange Mt.Gox has provided an update on its repayment process as part of its recovery plan.
Trustee Nobuyaki Kobayashi announced that the payment is in preparation. Lenders are asked to specify exactly how they would like to receive the funds – early in a single payment or several payments, and they can also choose to repay some of the assets in bitcoin or bitcoin cash.
The exact start date for the refund is not given in the document.
Kobayashi also said that new applications will not be accepted from the end of August until all or part of the original payments have been repaid.
Recall that Mt.Gox filed for bankruptcy in 2014. The civil rehabilitation process was initiated in 2018.
A few years later, in 2020, Kobayashi made a plan in Tokyo court to recover funds from creditors. The court approved the document. At that time, 137,891 BTC was stored in the Mt.
Concerns have been raised repeatedly in the community that the initiation of payments to Mt.Gox creditors will put pressure on the bitcoin price, as many may start selling their holdings after receiving them.
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Source: Fork Log
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