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The deadline for creditors of collapsed Bitcoin (BTC) exchange Mt. Gox to register payment methods to receive claims is approaching this Friday.
The registration deadline was previously set for January 10th, but was later pushed back to March 10th.
The Mt. Gox Trustee has stated that “rehabilitation creditors who have not completed selection and registration by the due date will not be entitled to the following repayments.” letter Earlier this week, we listed the following affected payouts:
- early lump sum repayment
- Repayment of part of virtual currency rehabilitation claims in virtual currency
- Repayment by bank transfer
- Repayment by remittance via fund transfer service provider
The letter added that creditors who have not yet registered the payment method they wish to use to receive their money will need to do so “immediately.”
“[…] There is only a short time left before the deadline,” the letter warned.
The trustee, Japanese attorney Nobuaki Kobayashi, said in the letter that those who have already submitted payment details are free to change their payment details until the deadline, but do not have to submit them again.
Billing can be received in cryptocurrency or fiat currency
The Mt. Gox Trustees had originally asked creditors to provide payment details in July 2022.
A letter sent by the trustee at the time asked creditors whether they would like to receive “a portion of the rehabilitation claim that includes virtual currency” in the form of Bitcoin and/or Bitcoin Cash (BCH), or in the form of virtual currency. I was asking if you don’t want to receive it.
Creditors who chose to receive part of their bill in cryptocurrency were asked to register the information they needed to make the transfer, including wallet addresses to custodians and exchanges.
It has long been feared that the release of BTC from the Mt. Gox trustees would put intense selling pressure on the bitcoin market. Japanese trustees hold 141,686 BTC worth about $3.1 billion at today’s prices.
For comparison, Michael Saylor’s company MicroStrategy holds about 132,500 BTC.