Mt. Gox Creditors Can Now file For Claims Until April

Mt. Gox customers who lost their Bitcoin investments in a 2014 hack can now file claims until April. The Japanese court extended the deadline from October 2018 to allow more victims to seek compensation for their losses. This move comes after a rehabilitation plan was approved by the court in March 2019, allowing creditors to receive a portion of their funds back from the exchange. The deadline extension provides a final opportunity for people to submit their claims and participate in the distribution of recovered assets.

The Rehabilitation Trustee has extended the deadline for filing claims against Mt. Gox for another month, from March 10 to April 6, 2023. Mt. Gox was once the largest Bitcoin exchange in the world until a hack in 2014 resulted in the loss of around 850,000 BTC, leading the platform to declare bankruptcy. Since then, there has been a prolonged legal process to determine how to distribute the remaining assets among creditors. On March 30, 2020, a Japanese court approved elongating a rehabilitation plan for creditors to receive their remaining Bitcoin. However, registering claims has been problematic and complicated, which led the court to further extend the deadline by one month. Many creditors have been waiting for years to receive compensation, and the delay has frustrated them. The deadline extension has also impacted when the assets will be distributed, with the distribution date scheduled for October 31, 2023, instead of the previous date of September 30. The case still holds significant attention in the cryptocurrency industry, and the rehabilitation process’s outcome will be closely monitored.

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