Repayment process 🔔

The Mt. Gox repayment process, which was extended to October 31, 2024, involves the reimbursement of 142,000 BTC, 143,000 Bitcoin Cash ($BTC ), and 69 billion yen in fiat to creditors. This delay follows an earlier deadline shift from 2023, aimed at ensuring all logistical and legal matters are resolved. So far, some creditors have reported receiving their fiat payments, while the distribution of $BTC and BCH remains

The large quantity of Bitcoin involved, valued at over $9 billion, has raised concerns about its potential impact on the cryptocurrency market, specifically whether the release will lead to significant price fluctuations. However, the extended deadline and staggered repayment schedule are designed to mitigate such risks​

. Gox was once the largest Bitcoin exchange, handling about 70% of global Bitcoin transactions. Founded in 2010, it became infamous for its 2014 collapse after a security breach resulted in the loss of approximately 850,000 BTC, worth billions. This led to the exchange's bankruptcy and a long legal process for creditors.

In 2021, a rehabilitation plan was approved to return the remaining 142,000 BTC and other assets to creditors, with the final deadline for repayments now set for October 2024​#BTC60KResistance