According to TechFlow, on July 5, The Block reported that the Mt Gox trustee announced today that it has begun to repay designated cryptocurrency exchanges in accordance with the restructuring plan. The time it takes for creditors to receive Bitcoin or Bitcoin Cash may vary depending on the exchange. According to the trustee document, creditors using Kraken accounts may have to wait up to 90 days, while Bitstamp may take 60 days, BitGo will take 20 days, and SBI VC Trade and Bitbank will complete the repayment within 14 days.
The trustee said that each designated cryptocurrency exchange must add the corresponding amount of BTC/BCH to the creditor's account balance or transfer it to a wallet associated with the account within a certain number of days after the BTC/BCH is transferred from the trustee. Mt Gox transferred 47,228.7 BTC (about $2.71 billion) to a wallet earlier today and further transferred these assets in multiple transactions, including sending 1,545 BTC (85 million US dollars) to Bitbank's hot wallet.
