mountain. Gox has extended the refund deadline to March 30th

Creditors of defunct cryptocurrency exchange have given Mt Gox more time to choose and register how they want to be compensated by the company.

According to a document from the exchange’s custodian, Nobuaki Kobayashi, the registration deadline, which was previously set on January 10, 2023, has been extended to March 10 (Japan time) after obtaining approval from the court.

“The deadline for selection and enrollment was January 10, 2023 (Japan time), but after obtaining the court’s permission, the rehabilitation officer changed the deadline to March 10, 2023 (Japan time), considering various circumstances such as the progress of rehabilitation. creditors in matters of selection and registration, ”the official wrote.

Gox has moved the compensation deadline to September 30th

Kobayashi urged creditors to complete the registration process before the new deadline, adding that those who fail to complete their selection will not be compensated or may have to submit additional documents to corporate headquarters.

The curator noted that those who have already registered their elections do not need to do so again. And while they could change their choice before the new deadline, the update discouraged creditors from doing so to streamline the confirmation process.

Moreover, the extension affected the distribution deadline because creditors would have to wait longer to receive compensation. The payment date has been extended from July 31 to September 30, 2023.

“After obtaining the court’s permission, the Rehabilitation Trustee also changed the basic payment deadline, the lump sum early payment deadline and the intermediate payment deadline from July 31, 2023 (Japan time) to September 30, 2023 (Japan time) after the change in date final selection and registration.

mountain. Gox creditors to receive billions

Meanwhile, Mt. Gox insolvent in 2014 after losing 850,000 bitcoins to hackers. Since then, the company has been working on how to reimburse affected customers.

The value of BTC stolen from the exchange was $473 million at the time of the incident, but the assets are worth more than $14 billion at current prices. However, the custodian will not pay the 850,000 BTC to the creditors because the exchange was unable to recover the stolen assets.

However, the creditors are expected to receive more than 140,000 bitcoins, worth about $2.3 billion.

Mt. site. Gox Extends Refund Registration Deadline to March 30 appeared first on CryptoPotato.

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