Creditors of Mt. Gox has another month to file their application as the registration deadline has been pushed back another month.
Registration dates for borrowers Mt. Gox has been pushed back another month. According to the announcement, the deadline has been changed from March 10 to April 6, allowing borrowers to apply for another month.
The distribution deadline has been pushed back another month as well. The distribution of assets to current creditors will begin from October 31 to September 30.
Legal documents refer to various conditions that have changed in the last period, such as the progress of borrowers returning from elections and registration. Borrowers have a choice of payment, bank transfer, transfer services or through an exchange or custodian.
Creditors have been waiting years to receive payments due to the exchange hack in 2014. Mt. Gox is a Tokyo-based cryptocurrency exchange that once accounted for more than 70% of Bitcoin transactions. In 2014, the exchange was hacked and sued after trading thousands of Bitcoins
BTC
tickers down
$22,145
it was stolen.
As Cointelegraph reported in February, Mt. Gox Investment Fund – the largest investor in illegal crypto exchanges – chose to pay Bitcoin early instead of waiting for more money after a legal battle. Early payment means that borrowers will receive almost 90% of what is owed. The broker does not need to sell tokens to receive fiat currency for payment because the lender also chooses to pay in BTC.
The deadline extension means other borrowers will have another month to decide whether to use the lower rate now or wait another nine years to get the full amount.
Payment of creditors of Mt. Gox has been in the spotlight for a while, especially considering the price of BTC has increased significantly since the collapse of the exchange. There is speculation about the impact of the creditors of Mt. Gox in the market if they decide to sell their assets. However, a report from Bloomberg noted that the main lender of Mt. Gox does not plan to sell BTC.
