Mt. Gox Creditors Have Until January 2023 to Select a Repayment Method

The creditors of Mt. Gox could be one step closer to getting their funds back after nearly a decade of waiting.

This is because the Rehabilitation Trustee has announced a deadline for them to select their preferred repayment method.

  • Nobuaki Kobayashi, the man in charge of the rehabilitation process of Mt. Gox, released a new update for creditors on Thursday (October 6, 2022).
  • In it, creditors were told they had until January 10, 2023 to choose a payment option and register the beneficiary information, also known as selection and registration, through an online claim form.
  • According to the statement, those who do not do so risk not receiving an early refund of the lump sum and part of the cryptocurrency. In addition, if the screening and registration process is not completed, affected creditors will not be able to receive reimbursement via bank transfer or a funds transfer service provider.
  • Bitstamp, the cryptocurrency exchange, stated that the platform would participate in the rehabilitation process. According to a blog post:

“Bitstamp is pleased to announce that we are supporting the Mt. Gox creditor rehabilitation process. Rehabilitation creditors who choose Bitstamp as their cryptocurrency exchange will receive rehabilitation assets via their Bitstamp account.

  • Meanwhile, there have been fears that the refund could lead to a massive sell-off of bitcoins, given that the saga has been ongoing for nearly a decade. Some within the crypto community have speculated that these people may want to sell their BTC, giving rise to the asset between the hack and now.

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