Mt Gox takes final steps to pay creditors

Mt Gox takes final steps to pay creditors

Currently, the representative of Mt Gox is taking the final steps to pay the creditors.

In a recent announcement, the Mt Gox trustee said refunds are being made and the final steps of the process are almost complete.

Mt Gox trustees will go through financial institutions and cryptocurrency exchanges to pay creditors, until the end of October.

The Mt Gox trustee said it would take a long time to process all creditor refunds and the repayment period could be extended, so creditors should take note.

On June 30, 2020, the Tokyo Court ordered an extension of the submission deadline, in which the deadline for the compensation plan will be October 15, 2020. However, because there are too many procedures and difficulties. difficulties, the compensation period has been extended to this day.

Currently, Mt Gox has 142,000 BTC ($3.9 billion), 143,000 BCH ($17.9 million) and 69 billion Japanese yen ($523 million), it’s currently unclear how much of the initial return will be. This.

Mt Gox will refund creditors in the form of cryptocurrencies, namely bitcoin, bitcoin cash and fiat.

In addition, if the creditor wants to repay in Japanese Yen, it will also be met but the limit is only 200,000 Yen. If the claim exceeds this number, the creditor will receive additional crypto and cash.

See also: Mt Gox creditors want to receive compensation in Bitcoin in September

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