Mt. Gox Delays Repayment To Mid-September

The Mt. Gox reimbursement dates, originally slated for late August and involving the delivery of approximately 137,000 Bitcoins (BTC) to consumers of the hacked trading platform, appear to have been pushed back again.

Indeed, according to the most recent public document published on the platform’s website on August 31, the “Assignment, etc. Restriction Reference Period” has been accepted by the court and will begin on September 15 and terminate at an unspecified time. This, however, does not guarantee that payments will commence on September 15, 2022 (Japan time).

This reimbursement process, according to Django Bits, a purported operator of a channel for Mt. Gox creditors, might “drag on for months if not years.”

Concerning the payback procedure to Mt. Gox creditors, investors have been watching the trustee’s balance, which can be followed using the measure indicating that 137,890 BTC is in Mt. Gox reserve.

Recently, there has been a lot of speculation about the impact of the dividend on the cryptocurrency market. There is a danger that Mt. Gox clients will sell their recovered BTC, causing further market turmoil.

This may not be the case because when creditors submitted their registration request, they were given the option of receiving their Bitcoin early in the form of a partial lump sum payment or waiting until the civil rehabilitation process was completed, at which point more money would be available for distribution.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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