Back in 2021, MtGOX Trustee Nobuaki Kobayashi
published an open letter, where he approved a plan for the distribution of assets remaining on the wallets of the exchange. He offered two options – an early lump sum payment of 90% of the claims or waiting for the end of the bankruptcy process, as a result of which creditors could receive a slightly larger amount.
The MtGox Investment Funds (MGIF) investment fund and the New Zealand crypto exchange Bitcoinica, whose claims amount to about 20% of all claims to the crypto exchange,
chose first option.
Mt.Gox was once the world’s largest trading platform for bitcoin, accounting for about 90% of the total trading volume of the first cryptocurrency. In April 2014, the exchange filed for liquidation due to the loss of 850,000 BTC due to a hacker attack. The bankruptcy procedure of the stock exchange is still ongoing.
Only in June 2018, the exchange’s creditors were able to receive compensation in bitcoins as compensation for losses, although it was originally planned to return funds in fiat currency at the rate at the time of the hack.
In September 2022, the interim manager of the Mt.Gox exchange published information on the timing of reimbursement of losses to creditors and announced a moratorium on the filing of new compensation claims.
Source: Bits
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