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Mt. Gox Deadline Pushed Back to March Next Year

Mt. Gox Deadline Pushed Back to March Next Year
Exchanges / Breaking News

Those who lost money during the collapse of the Bitcoin platform Mt. Gox may have a ray of hope after the trustee in charge of the former customers has once again extended the submission deadline for the claims. 

In a statement released earlier this week on October 28th, Nobuaki Kobayashi noted that the high volume of problematic requests for money meant that a five-month extension was bound to happen sooner or later.

March 2020

The trustee confirmed the plan just one day before the current deadline was cemented. This was another thing was the result of an extension which Kobayashi agreed to in April.  

“A large amount of rehabilitation claims that the Rehabilitation Trustee fully or partially disapproved remains undetermined for being subject to claim assessment procedures and appeals against a decision on a petition for claim assessment,” he explained.

Kobayashi’s statement finished off saying:

“In light of the foregoing, the Rehabilitation Trustee filed a motion to seek an extension of the submission deadline of a rehabilitation plan at the Tokyo District Court, and, on October 25, 2019, the Tokyo District Court issued an order to extend the deadline for a rehabilitation plan to March 31, 2020.”

Prior reports suggested a total of around 24k people were involved with the whole Mt. Gox fiasco. In early 2014, the platform collapsed and with a very drawn-out legal process still to award any refunds. Around 850,000 BTC (at the time worth $460 million) disappeared from its records. 

The crypto space is also keenly keeping updated with another platform’s demise earlier this year. 

As per CT, “Canada’s QuadrigaCX, the founder of which suddenly died in late 2018, still owes around $145 million to its 115,000 creditors.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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