Mt. Gox, the collapsed crypto exchange, has begun repaying its debts in Bitcoin (BTC) and Bitcoin Cash (BCH).
Repayments are being made to some rehabilitation creditors via designated crypto exchanges in accordance with the Rehabilitation Plan.
“On July 5,2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges etc. in accordance with the Rehabilitation Plan."
Related: Bitcoin crashes to $53K, but analysts warn the worst isn’t over
Conditions for repayments
The repayments to the remaining rehabilitation creditors will be “promptly made” after multiple conditions have been met.
These conditions include confirming account validity and creditors’ acceptance of the intent to subscribe to the Agency Receipt Agreement by designated crypto exchanges.
In addition to assuring repayments are made safely and securely, discussions regarding repayment procedures between the Rehabilitation Trustee and the exchanges must also be completed.
Related: Mt. Gox moves $2.7B in Bitcoin to new wallet address
This is a developing story, and further information will be added as it becomes available.