Mt. Gox Creditors Finally Receiving Repayments.
Creditors of the now-closed Bitcoin exchange Mt. Gox are reportedly starting to receive repayments after years of waiting. Users on Reddit claim they are getting funds, indicating progress in the drawn-out case.
Progress in Multi-Tranche Repayment Process
The repayments to creditors will come in a series of installments, including the base repayment, early lump-sum repayment, and intermediate repayment. The process began in December, with a Japanese user reporting the receipt of Mt. Gox claims via bank transfer in Japanese Yen.
Creditors Show Optimism about the Repayment Process
Trustee Nobuaki Kobayashi sent emails to rehab creditors on Nov. 21, informing them of the repayment start date. Although the specific timelines were not revealed, the trustee anticipates making repayments throughout 2024.
Hot Take
The recent news seems to signal that long-awaited refunds for Mt. Gox creditors may finally be on the horizon. It’s worth noting that other exchanges, such as FTX, are also in the process of reimbursing creditors after their bankruptcy last year.
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