Mt Gox Trustee Sets Final Cut-off Date for Creditors to Claim Over $3 Billion in Recovered Bitcoin – Bitcoin News
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In a recent announcement, the trustee overseeing the Mt Gox bankruptcy case, Nobuaki Kobayashi, has set a final cut-off date of October 22, 2018, for creditors to file proofs of their claims to recover over $3 billion in recovered Bitcoin.
This comes as good news for the thousands of victims of the infamous Mt Gox hack, which saw the exchange lose over 850,000 bitcoins in 2014. In the years since, efforts have been made to recover the missing coins and compensate affected users.
Kobayashi, who has been overseeing the liquidation of Mt Gox since 2014, has been working tirelessly to return lost funds to users. In March of this year, he announced that he had sold over 35,000 bitcoins and 34,000 Bitcoin Cash, totaling over $400 million, to begin compensating creditors.
The final cut-off date for creditors is an important milestone in the Mt Gox bankruptcy case, as it allows creditors to claim their share of the recovered funds before the remaining assets are distributed among the shareholders of the defunct exchange.
To file their claim, creditors must submit a written proof of claim form, along with any supporting documents, such as account statements or transaction records. Claims can be made online or through the mail, but must be received by the trustee no later than October 22, 2018.
While the amount of Bitcoin to be distributed among creditors is still unclear, some estimates suggest that the recovered funds may be enough to cover a significant portion of the original losses.
With the final cut-off date now set, creditors are encouraged to file their claims as soon as possible. As Kobayashi continues his efforts to return lost funds to users, many hope that the end is finally in sight for the Mt Gox bankruptcy case.
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