Bitcoin Exchange Mt.Gox Announced: Payments Made to 13 Thousand Creditors, More to Come

Mt. Gox official Nobuaki Kobayashi made a statement regarding the repayments made to creditors.

Mt. Gox board of trustees chairman Nobuaki Kobayashi made remarkable statements on July 16.

Stating that Mt.Gox, which went bankrupt in 2014, has repaid more than 13 thousand creditors so far, Kobayashi emphasized that other creditors will also be paid if appropriate conditions are met. It has been noted that the payments made so far have been made through Bitcoin and Bitcoin Cash:

Following the refunds on July 5, 2024, refunds were made to some creditors in Bitcoin and Bitcoin Cash through certain cryptocurrency exchanges in line with the Recovery Plan on July 16, 2024. So far, more than 13,000 creditors have been refunded either in Bitcoin or Bitcoin Cash.

Creditor terms have been determined

Mt.Gox front explained the conditions that must be met in order for other creditors to receive repayment in 4 items:

Confirming the validity of registered accounts and other matters.

Acceptance of intent to participate in the Agency Purchase Agreement by certain cryptocurrency exchanges.

Completion of negotiations regarding refunds between the Recovery Authority and certain cryptocurrency exchanges.

Verifying that returns can be made safely.

Finally, the US-based cryptocurrency exchange, Kraken, stated that they received Bitcoin and Bitcoin Cash worth $9 billion from the management of the bankrupt stock exchange, and announced that the necessary distribution processes would be completed within 7 to 14 days.