{"id":76852,"date":"2023-04-07T13:55:12","date_gmt":"2023-04-07T10:55:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76852"},"modified":"2025-09-10T19:48:21","modified_gmt":"2025-09-10T16:48:21","slug":"mt-gox-trustee-announces-start-of-compensation-payments","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mt-gox-trustee-announces-start-of-compensation-payments\/","title":{"rendered":"Mt. Gox trustee announces start of compensation payments"},"content":{"rendered":"<p>A window for payments to Mt. Gox creditors opened after the deadline for submitting the relevant documents. The period will run until 31 October 2023, according to Nobuaki Kobayashi&#8217;s <a href=\"https:\/\/www.mtgox.com\/img\/pdf\/20230407_announcement_en.pdf\">letter<\/a>.<\/p>\n<p>The process will take some time. The timings for basic, intermediate, and early lump-sum payments may be adjusted with the permission of the Tokyo District Court.<\/p>\n<p>Kobayashi will coordinate payments with financial institutions, including crypto exchanges, which will distribute the funds among creditors.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;For this reason, it will take some time before payments begin,&#8221;<\/em> the trustee warned.<\/p>\n<\/blockquote>\n<p>Mt. Gox currently holds 142,000 BTC ($3.9 billion), 143,000 BCH ($17.9 million) and \u00a569 billion ($523 million) \u2014 about 20% of the hack.<\/p>\n<p>The once-largest bitcoin exchange Mt. Gox collapsed in early 2014. This followed reports of a suspected hack and theft of 800,000 BTC ($480 million at the time).<\/p>\n<p>The civil rehabilitation process was launched in 2018.<\/p>\n<p>In 2020 Kobayashi <a href=\"https:\/\/u1f987.com\/en\/news\/mt-gox-trustee-submits-2-6-billion-plan-to-compensate-bitcoin-creditors\">submitted<\/a> a plan to reimburse creditors in the Tokyo court, which <a href=\"https:\/\/u1f987.com\/en\/news\/court-approves-mt-gox-creditors-restitution-plan\">approved the document<\/a>. At that time the platform&#8217;s wallet held 137,891 BTC.<\/p>\n<p>As previously reported, the Mt. Gox trustee <a href=\"https:\/\/u1f987.com\/en\/news\/mt-gox-trustee-begins-preparations-to-reimburse-creditors\">began preparing<\/a> for compensation payments in July 2022.<\/p>\n<p>Earlier UBS <a href=\"https:\/\/u1f987.com\/en\/news\/ubs-doubts-large-bitcoin-risk-from-mt-gox-payouts-to-clients\">expressed doubts<\/a> about large risks to Bitcoin arising from client payments by the platform.<\/p>\n<p>Bloomberg noted that the largest creditor of the bankrupt exchange intends to <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-mt-goxs-largest-creditor-plans-to-hold-returned-bitcoins\">retain<\/a> the returned coins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A window for payments to Mt. Gox creditors opened after the deadline for submitting the relevant documents. The period will run until 31 October 2023, according to Nobuaki Kobayashi&#8217;s letter.<\/p>\n","protected":false},"author":1,"featured_media":76853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,136],"class_list":["post-76852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-mtgox"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76852"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76852\/revisions"}],"predecessor-version":[{"id":76854,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76852\/revisions\/76854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76853"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}