The #bankruptcy exchange #Mt.GOX has again shifted the deadline for paying creditors. Now the victims of the platform's collapse will receive their money only by October 31, 2025
Cryptocurrency #exchange Mt. Gox went bankrupt back in 2014 and has not yet completed the process of paying out funds to creditors affected by the collapse of the trading platform.
The deadline is being pushed back again
The new document states that most creditors have already received basic, interim and early payouts. However, some of the creditors have still not completed all the necessary procedures or have faced some problems during the disbursements.
“Many creditors have still not received their disbursements because they have not completed the necessary procedures to receive them. In addition, a significant number of rehabilitation lenders have not received their disbursements for various reasons, such as problems encountered during the disbursement process,” Mt. Gox said in a statement.
As a result, the deadline to receive these payments has been extended from October 31, 2024 to October 31, 2025 (Japanese time).
Cryptans aren't too upset
As of this writing, $BTC
is trading at $61,074. Over the past 24 hours, the cryptocurrency has slipped just over 1%. At the same time, bitcoin did not show any reaction specifically to the news from #MtGox .
According to Arkham, the Mt. Gox crypto wallet currently holds 44,905 bitcoins totaling over $2.7 billion at the current exchange rate. This is a significant amount of money, which is why many members of the crypto community have long feared that the exchange's payouts could “sink” BTC.
“Now the selling pressure on bitcoin after the $4 billion payout is a problem as early as 2025,” rejoiced a user on X (formerly Twitter) in his tweet.
Meanwhile, the bankrupt exchange has already moved its BTC holdings in the past. For example, on May 28, Mt. Gox moved $8.7 billion worth of crypto. Then representatives explained that this is how the trading platform is preparing for the first payments to creditors.
By the end of July this year, the platform had moved another 37,477 bitcoins worth $2.5 billion (at the exchange rate at the time). After that, the exchange reported that it had already completed 60% of payments to creditors.