There seems to be a ray of light for the clients of the bitcoin exchange operator Mount Gox as a date has been set for creditors to register and choose a payment plan to recover lost funds.

According to news from a rehabilitation trustee, Nobuaki Kobayashi, users are required to register beneficiary information on MTGOX Online Rehabilitation Claims filing system. Therefore, creditors who wish to receive payment have been given a deadline of January 10, 2023 to complete their Selection and registration.

Creditors also received guidance on how to proceed with their initial registration; rehabilitation creditors must log into the system themselves to ensure a secure payment.

In addition, it is anticipated that the Rehabilitation Trustee will use the address provided by the Rehabilitation Creditors to verify identity or provide it to other parties involved in the reimbursement process to receive the Refund.

Therefore, any rehabilitation creditor who needs to rectify or change address information that has already been notified must complete the change of address processes immediately.

The now defunct Mt. Gox

The Bitcoin exchange called Mt.Gox is located in Shibuya, Tokyo, Japan. Initially created by Jed McCaleb in July 2010, Mt.Gox was later sold to Mark Karpeles’ Tibanne Co. in March 2011. Online transactions also stopped after it was hacked in February 2014 and its Bitcoins were stolen. .

About 850,000 bitcoins were lost due to Mount Gox in 2011 as a result of hacking attacks. This loss cost the exchange $460 million at the time or about $40 billion at the current price of a bitcoin. Thousands of exchange users, who own cryptocurrencies and pay out of pocket, covered this loss.

Sources claim that the trustee of Mt.Gox Rehabilitation intended to expedite repayments and offered creditors the option of Bitcoin, cash or bitcoin cash How paid; however, creditor Eric Wall denied this information claiming that the payment system was not yet ready.

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