Mt. Gox creditors receive long-awaited repayments

Mt. Gox creditors receive long-awaited repayments

The distant past of Bitcoin exchange, Mt. Gox is once again becoming a topic of discussion. It’s all due to emerging reports of unexpected repayments to creditors who have been waiting for years to recover their funds.

Mt. Gox compensates lost bitcoins

Creditors of former cryptocurrency powerhouse Mt. Gox are reporting unexpected transfers in Japanese yen that they are receiving for their lost Bitcoins. Rumors of these repayments have begun to circulate on social media, particularly on the Reddit platform, where users affiliated with the r/mtgoxinsolvency group share their experiences.

“I just received the payment,” – proclaims the post of one Reddit user, who attached to his comment a screenshot confirming the receipt of payment by PayPal. This event, which seemed almost impossible until recently, is now becoming a reality.

Another person in the group also made no secret of his surprise: “I just received the money!” At first the man thought it was an attempted phishing scam, however, the funds actually went into his PayPal account.

One of the first tranches

Another user noted that he had received a partial repayment, the equivalent of $200, which was only part of his original claim. The missing amount still remains to be paid.

These repayments appear to be spread over several tranches, covering primary, early and intermediate settlements. However, the details of these tranches and the timing of their completion are still shrouded in mystery.

The revelation comes just a month after initial signals from Nobuaki Kobayashi, the trustee overseeing the Mt. Gox assets. In November, he began contacting rehabilitation creditors about preparing for distributions.

In a release, Kobayashi expressed his intention to begin cash distributions in 2023, with a plan to continue doing so in 2024 as well. However, specific dates for disbursements to individual creditors have not yet been disclosed.

A few months earlier, internal deadlines were pushed back by the trustee from October 31, 2023 to an identical date in 2024, while suggesting that for some rehabilitation creditors, disbursements could come as early as the end of this year.

Mt. Gox final showdown

The start of the repayment of Mt. Gox creditors is undoubtedly a watershed event. Those waiting for the transfers to take place have spent years in uncertainty and waiting for final decisions on the case. Although the above information is still unconfirmed at the source, it fills one with hope that the years-long saga is now entering its final phase.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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