First Mt. Gox customer repayments weren’t made until September

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Following the appointment of a trustee for the platform, creditors of the collapsed cryptocurrency exchange Mt. Gox will now have to wait longer to receive their assets.

In particular, the trustee Nobuaki Kobayashi indicated in a letter on January 6 that the Mt. Gox creditor registration date had been extended from January 10 to March 10, 2023, with consent from the court.

The trustee said in the letter that the decision was made as a result of “many factors,” including the rehabilitation creditors’ progress with regard to the Selection and Registration.

Notably, the January 10 deadline established in October 2022 was intended to provide previous clients the chance to choose a preferred payment method.

The trustee may advance payment using a bank remittance, a financial transfer agency, a cryptocurrency exchange, or a custodian.

It is important to note that Mt. Gox was among the top Bitcoin (BTC) exchanges internationally prior to its collapse in February 2014.

The platform’s issues started after 850,000 Bitcoin, worth $500 million at the time, were stolen by unidentified hackers.

Approximately 24,000 creditors were impacted by the incident, and according to reports, only 150,000 of the stolen Bitcoin had been found.

According to Finbold’s analysis, the Mt.Gox incident currently ranks among the top 10 cryptocurrency-related heists of all time.

In addition, there were worries that the compensation plan, if the former clients decided to liquidate, would cause the market to become unstable.

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