Mt. Gox set to begin cash repayments to creditors ‘shortly’ in 2023
Creditors of Mt. Gox, a Bitcoin exchange that ceased operations after losing 850,000 BTC in a 2014 hack, have reportedly received an email indicating forthcoming repayments. On Nov. 21, Nobuaki Kobayashi, the trustee in charge of the Mt. Gox Bitcoin exchange’s estate, began issuing emails to rehabilitation creditor s about the initiation of repayment s, as reported by numerous sources on social media. The email allegedly sent by Kobayashi indicates plans to begin the first round of cash repayment s to creditor s in 2023. The trustee is expected to extend these repayment s into 2024, yet the precise schedule for individual rehabilitation creditor s remains unspecified. The trustee’s email also highlighted the complexity and diversity of the repayment process, noting, “due to the large number of rehabilitation creditors, the varying types of repayments, and the different preparation and processing times required, repayments will continue into 2024.” Kobayashi...