- The Mt. Gox bankruptcy trustee said the deadline for repaying creditor assets has been extended to Oct. 31, 2027, from Oct. 31, 2026.
- The repayment plan includes distributions of about 142,000 Bitcoin, about 143,000 Bitcoin Cash (BCH) and 69 billion yen in cash.
- About 34,000 Bitcoin are still due to be distributed in stages to creditors who have yet to be repaid.
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Mt. Gox, the defunct cryptocurrency exchange that went bankrupt after a major hack, has extended the deadline for repaying creditors by another year.
According to the crypto industry on October 19, the exchange’s bankruptcy trustee said in a notice dated October 16 that the deadline for completing repayments had been changed to Oct. 31, 2027, from the previous target of Oct. 31, 2026.
The trustee said the schedule was adjusted to reflect the practical conditions needed to complete repayments to creditors. The change was approved by the court and marks the fourth extension since the first delay in October 2023.
Mt. Gox was founded in 2010 as a Bitcoin exchange. It entered bankruptcy proceedings in 2014 after about 850,000 Bitcoin were stolen in a hack. Since then, it has been pursuing a repayment process to return recovered assets to affected users.
A repayment plan disclosed in September 2023 included about 142,000 Bitcoin, about 143,000 Bitcoin Cash and 69 billion yen in cash. Differences in repayment methods and procedures for each creditor, however, have prolonged the overall payout process.
According to materials released on March 27, the trustee had distributed Bitcoin and Bitcoin Cash to about 19,500 creditors. About 34,000 Bitcoin are still due to be distributed in stages to creditors who have yet to be repaid.