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Mt. Gox Creditors Receive Bitcoin, Bitcoin Cash  Payment Update

Many consumers have reported receiving reimbursements in their bank accounts in fiat currency.

Written By:
Jalpa Bhavsar

Last updated: April 23, 2024 7:00 PM
Published April 23, 2024 12:12 AM
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Last updated: April 23, 2024 7:00 PM
Published April 23, 2024 12:12 AM
Mt. Gox Creditors Receive Bitcoin, Bitcoin Cash  Payment Update

Several creditors of Mt. Gox have claimed that the trustee has updated claim accounts with reimbursement information for both currency and Bitcoin.

Users of the Mt. Gox insolvency subreddit say that the Mt. Gox trustee has updated their claim accounts with precise payback amounts and completion deadlines.

Mt. Gox claims system
Mt. Gox claims system. Image: Reddit, u/IError413

“I just logged in and it finally populated the repayment table with JPY, and  claims. Nothing received yet though,” a person on Reddit posing as a creditor wrote. 

The fiat money repayment claim section’s reimbursement status is marked as complete, according to many screenshots. Many consumers have reported receiving reimbursements in their bank accounts in fiat currency.

“Money received as USD into an HSBC currency account and looks like zero fees,” a person posing as a creditor of Mt. Gox stated on Monday.

The subreddit user also mentioned that the fiat transfer took almost a month to show up in their bank account after the table’s fiat currency repayments section was updated. The Redditor wrote, “The table had been updated March 15 first, then April 8 second, then April 18 when BTC lines arrived.”

Founded in 2010, Mt. Gox rose to become the world’s largest bitcoin exchange until a security breach on the network in 2014 caused the loss of 850,000 bitcoin.

The trustee of the now-defunct exchange declared in September 2023 that by a new deadline of October 2024, creditors will be reimbursed with 142,000 bitcoin and 143,000 bitcoin cash in addition to fiat currency totaling 69 billion Japanese yen ($510 million).

Also Read: Mt. Gox Creditors Accidentally Paid Twice in Rehabilitation Settlement

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Jalpa Bhavsar- Senior crypto journalist at The Crypto Times
By Jalpa Bhavsar
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Jalpa Bhavsar is a Crypto Journalist with 3 years of experience in crypto, blockchain, AI, digital design, and crypto news reporting. She holds a B.Tech in Computer Science, bringing a strong technical foundation to her writing. Jalpa focuses on delivering clear, accurate, and engaging coverage of the latest trends and developments in the crypto and tech space.

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