- Mt. Gox’s trustee, Nobuaki Kobayashi, postponed the deadline for reimbursing creditors.
- The new deadline for settling creditor payments is October 31, 2024.
- Two Russians were indicted for allegedly stealing 647,000 Bitcoins from Mt. Gox.
In a further development in the Mt. Gox situation, the trustee in charge of the bankrupt Bitcoin exchange’s estate, Nobuaki Kobayashi, has formally declared a postponement of the deadline for reimbursing its creditors. This move comes as the exchange’s users have been persistently seeking resolution through fund repayment for over a decade following the security breach in 2014.
Per the letter received on September 21, 2023, the revised date for settling creditor payments has been extended to October 31, 2024, from the initial deadline of October 31, 2023. Although this postponement in the ultimate disbursement may cause some concern, it still presents a potential positive outcome for the impacted creditors.
Furthermore, Kobayashi has indicated that reimbursing these creditors could begin as soon as the close of this year. This offers some respite to those enduringly awaiting the return of their misplaced funds.
On February 25, 2014, the Mt. Gox exchange experienced a significant security breach, leading to the loss of 850,000 Bitcoins, equivalent to around $23 billion at present values. Investors owned these Bitcoins. Following the cyber attack, the exchange retrieved roughly 20% of the purloined digital assets.
The U.S. Department of Justice also made substantial progress in the case earlier this year. They indicted two Russian individuals, Alexey Bilyuchenko and Aleksandr Verner, for allegedly stealing around 647,000 Bitcoins from Mt. Gox between 2011 and 2014. This represented a major advancement in bringing those accountable for the unprecedented cryptocurrency theft to justice.
