According to a trustee document, some creditors of bankrupt Bitcoin exchange Mt.Gox may have to wait up to three months to receive their Bitcoin (BTC) or Bitcoin Cash (BCH) repayments, depending on which cryptocurrency exchange they file their claims through.
The trustee for Mt.Gox’s rehabilitation announced on Friday that the exchange has started making repayments to some creditors through designated cryptocurrency exchanges, in accordance with the rehabilitation plan. The trustee previously explained that the schedule for payments appearing in creditors’ accounts may vary depending on the exchanges. Kraken, for example, was given 90 days to process repayments, while Bitstamp may take up to 60 days. Repayments on BitGo will be displayed within 20 days, while SBI VC Trade and Bitbank will complete payments within 14 days.
The trustee stated in the document:
“In today’s announcement, the trustee states that repayments to eligible creditors who meet certain conditions, including confirming the validity of registered accounts, accepting the agreement of designated cryptocurrency exchanges, and completing discussions with the trustee, will be made in a timely manner.”
A user on social platform X claimed today that their designated exchange account had received BTC and BCH repayments from Mt.Gox, but expressed doubts about the repayment process. When responding to queries from other users, the individual stated that the compensation received was 13% of the original holding in their Mt.Gox account, but was unsure if this was an accurate proportion.
According to data compiled by Arkham, earlier today, the Mt.Gox wallet transferred 47,228.7 BTC (approximately $271 million) to a single wallet, which was subsequently moved in multiple transactions, including sending 1,545 BTC (around $85 million) to a hot wallet at cryptocurrency exchange Bitbank.
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