Mt. Gox Extends Repayment Deadline to October 2025

Mt. Gox, the defunct cryptocurrency exchange, has extended the deadline for repaying its creditors by another year, moving the date to October 31, 2025. This marks another delay in the long-running process to return funds to those affected by the platform’s collapse.

The extension was announced in an official statement, which noted that “a significant number of rehabilitation creditors have yet to receive their payments” due to incomplete procedures.

Mt. Gox, once one of the world’s largest crypto exchanges, was handling around 70% of all Bitcoin transactions globally at its peak. However, a series of major security breaches and hacks went undetected, leading to the suspension of withdrawals and the eventual downfall of the exchange in 2014, freezing the assets of approximately 127,000 users.

In July, the trustee in charge of Mt. Gox’s assets initiated the distribution of roughly $9.4 billion to creditors. Despite this, wallets tied to the exchange were still holding about $2.8 billion in assets, according to data from Arkham Intelligence. Nobuaki Kobayashi, the trustee, explained:

“[…] many rehabilitation creditors have not received their payments due to not completing the required steps. Furthermore, various issues in the repayment process have resulted in delays for many creditors.”

Among these issues were double payments to some users caused by a system malfunction, with the exchange later acknowledging the error and requesting the return of the excess funds.

The repayment process has stirred concerns about its potential effect on Bitcoin prices. By the end of July, over 41.5%, or 59,000 BTC, had been redistributed. Data from Glassnode indicated that creditors were holding about $4 billion in Bitcoin.

After nearly a decade of legal proceedings in Japan, the exchange is returning 141,686 BTC, along with Bitcoin Cash (BCH) and fiat currency to creditors. At the time of writing, Bitcoin is trading at $62,926, marking a 5.3% increase in the past 24 hours.

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