Market News: Mt. Gox creditors may be receiving yen-denominated repayments
According to several Reddit users, Mt. Gox's creditors have begun receiving payments in fiat currency. Several posts on the r/mtgoxinsolvency Reddit page indicate that Mt. Gox has recently sent refunds to users via PayPal denominated in Japanese yen. These funds were locked in the exchange for nearly a decade since February 24, 2014. (Cointelegraph)
Earlier on November 22, it was reported that Mt. Gox plans to begin repaying creditors in cash by 2023 and may continue until 2024.
Nobuaki Kobayashi, the trustee of the exchange, stated in an email that due to the large number of creditors, the specific repayment timeline has not yet been determined, so it is not possible to notify each creditor of their specific repayment time in advance. Creditors can check the repayment status in their claim filing system.
Mt. Gox was founded in 2010 and became the world's largest Bitcoin trading platform by 2013, but stopped all withdrawals in early 2014 and filed for bankruptcy protection after losing more than 800,000 Bitcoins.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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