DeFI News by Thebittimes.Com

Mt. Gox has pushed back its bitcoin (BTC) repayments deadline yet again, extending the wait for some creditors to more than a decade after the exchange’s collapse. The latest postponement is the third year in a row that the Rehabilitation Trustee has kept creditors waiting. They now have a new deadline of October 31, 2026. As to why these repayments won’t be carried out on time, the notice explains that “many rehabilitation creditors… have not completed the necessary procedures.” It adds, rather unhelpfully, that others’ delays are “due to various reasons, such as issues arising during the Repayments process.” But looking at BTC’s price chart over that time, the Rehabilitation Trustee may actually be doing creditors a favor . Read more: Mt. Gox to start creditor repayments next month, asks users to ‘wait a while’ Repay or delay? Creditors approved a rehabilitation plan on October 20, 2021. At the time, BTC was at around $65,000 on its way to the ...

The defunct exchange had an original repayment deadline of October 31, 2024 Mt. Gox said the delay was down to creditors not completing the repayment steps and issues arising from the repayment process In 2024, Mt. Gox collapsed following a security breach, resulting in the loss of 850,000 Bitcoin Defunct crypto exchange Mt. Gox has pushed its repayment deadline to October 2025, adding another year from its original date. According to a statement from the exchange, it will now repay creditors on October 31, 2025. “As it is desirable to make the Repayments to such rehabilitation creditors to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline for the Repayments from October 31, 2024 (Japan Standard Time) to October 31, 2025 (Japan Standard Time),” Mt. Gox said. This marks the second time the platform has moved its deadline. In a 2023 statement, the platform announced that it wa...