Mt Gox claimants may see restitution soon as a recent filing from the Tokyo District Court’s trustee Nobuaki Kobayashi explains that the rehabilitation plan is now “final and binding.” The document released on Tuesday notes that an announcement will follow that discloses “details of the specific timing, procedures and amount of these refunds.”
Mt Gox Creditors May See Bitcoin Returned Soon
On Tuesday, Nobuaki Kobayashi published a notice of confirmation that the rehabilitation plan has been finalized. More than $ 9 billion worth of bitcoin (BTC) could find its way back to the original owners who lost money in the Mt Gox hack and subsequent bankruptcy. Since 2014, thousands of former Mt Gox users have tried to get their funds back and have been met with a myriad of obstacles over the years.
Kobayashi’s case indicates that the Tokyo court revealed the draft pardon plan in May and that on October 20, 2021, it was “approved by a large majority of pardon creditors.” The court filing does not disclose when the funds will be disbursed and if the funds will be paid directly in bitcoin (BTC). “An announcement will be made to the pardon creditors on the details of the timing, procedures and amount of these repayments,” Kobayashi said.
Mt Gox was one of the largest bitcoin exchanges before it went under in 2014, which saw close to 24,000 customers affected. The exchange was operated by Mark Karpelès and originally the exchange lost 850,000 BTC, but Karpelès managed to locate some of the bitcoin from the cold storage. Reports detail that there’s roughly 150,000 BTC that Kobayashi reportedly will distribute to Mt Gox creditors.
Creditors Should Use Mt Gox Online Filing System – Large Number of Inquiries May Delay Response Times
The court record released Tuesday further explains that the trustee expects “all pardon creditors” to register information such as bank account information using the online filing system.
Kobayashi adds that the trustee and court will not respond to direct inquiries or email inquiries regarding the claims process. Moreover, those who leverage the online filing system may still have to wait a bit longer as Kobayashi explained that a large number of inquiries may delay reply times.
