A rehabilitation plan aimed at compensating creditors of the bankrupt virtual currency exchange Mt. Gox was finally decided after approval by the Tokyo District Court.
Nobuaki Kobayashi, the trustee, said on the 16th that the rehabilitation plan submitted to the Tokyo District Court in February was finalized.Announced.. From now on, payments will be made to creditors according to the rehabilitation plan. Details such as the specific timing, procedures, and amount will be contacted in the future.
Creditors need to register an account to receive payments using the rehabilitation claim notification system.
Regarding the rehabilitation plan, in October, about 99% of creditors approved the rehabilitation plan, and creditors, who account for about 83% of the total number of voting rights, agreed with the plan.
This decision is a big step forward, as Kobayashi suggested in October that the “final and binding” ruling was the last major hurdle in the compensation process. However, some users who have been damaged by the bankruptcy of the exchange have reported that they are not frequently informed about the rehabilitation plan, and there is widespread skepticism about the timing of repayment.
Mt. Gox is one of the world’s largest cryptocurrency exchanges in the early days, founded by programmer Jed McCaleb in 2010 and later acquired by Mark Karpelès. The 2011 hack and the subsequent bankruptcy of the exchange in early 2014 affected about 24,000 creditors who held cryptocurrencies.
These events cost 850,000 BTC, about $ 460 million at the time, and $ 56 billion at the time of writing the article.