Mt. Gox creditors will have more time to decide which payment method they want to be paid with and register their payee information with the defunct cryptocurrency exchange.
In an announcement dated January 6, Mt. Gox Trustee Nobuaki Kobayashi fixed than previously announced deadline for reimbursement selection which was January 10, has now been moved to March 10 citing "rehabilitation creditors' progress" on screening and registration as a reason for the deadline change.
The announcement also urged creditors to complete the necessary steps before the new deadline. The update wrote that rehabilitation creditors who do not complete screening and registration within the new deadline will not be able to receive their refunds or, in some cases, will have to bring documents to the exchange's head office to receive their Japanese yen refunds. The announcement wrote:
โThe Rehabilitation Trustee will begin to confirm the contents of your Selection and Registration, etc., after this time to make the payment as soon as possible after March 10, 2023 (Japan time).โ
The update also clarified that those who have already completed the process do not need to do it again. In addition, the update asked those who have already completed the process to refrain from making revisions to the record in order to make the confirmation process more seamless.
Following the change of selection and registration, the trustee also obtained court authorization to change the base repayment term, lump sum early repayment and interim repayment. Effective July 31, 2023, the deadline is now moved to September 30, 2023.
Related: BTC Price Hits $17,000 as Analysis Warns of Incoming Bitcoin "Event Risk"
On August 29, rumors of a massive Bitcoin (BTC) Mt. Gox landfill circulated on social media. However, the creditors of the defunct trading platform dismissed the rumors and said they still can't register where they can receive the funds Mt. Gox owes them.
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