- According to recent reports, creditors of the bankrupt crypto exchange Mt. Gox have started receiving repayments after a 10-year closure.
- Reports from posts on the Reddit page indicate that Mt. Gox is sending repayments to users via PayPal in Japanese Yen.
- The defunct crypto exchange Mt. Gox has been attempting to repay all its creditors stuck with funds on the exchange since its closure in 2014.
According to the latest information, Mt. Gox, which has been trying to make repayments to its creditors for years, has now started making repayments.
Mt. Gox Creditors Begin Receiving Repayments
According to recent reports, creditors of the bankrupt crypto exchange Mt. Gox have started receiving repayments after a 10-year closure. Creditors of the currently closed Bitcoin exchange Mt. Gox are reportedly starting to receive fiat repayments for their Bitcoins. These creditors have been holding their funds on the exchange since February 2014.
Reports from posts on the Reddit page indicate that Mt. Gox is sending repayments to users via PayPal in Japanese Yen. A Reddit user confirmed this situation by providing a screenshot of an email with a PayPal receipt as evidence, stating, “I received payment.”
Another Reddit user expressed skepticism initially, stating “Got the money!” but suspecting it might be an initial attempt at fraud. However, the user later confirmed the payment’s legitimacy after the funds were credited to their PayPal account.
Repayment to Creditors
The defunct crypto exchange Mt. Gox has been attempting to repay all its creditors stuck with funds on the exchange since its closure in 2014. Kobayashi mentioned in the email that he plans to start the first cash repayments to creditors in 2023 and expects continuous repayments throughout 2024. However, Kobayashi did not provide specific details regarding the timing of individual rehabilitation creditor repayments.
There has been no official announcement from Mt. Gox regarding the repayments yet, but it is likely to happen soon. Another crypto exchange, FTX, is also attempting to make repayments to creditors after its bankruptcy last year.
