Bankrupt since 2014, Mt. Gox has long studied the various options available to it to repay its creditors. Then, the bitcoin (BTC) exchange set up a refund process. Recently, this process has been updated with the addition of a new function. Indeed, Mt. Gox has just launched a feature to allow creditors to choose their method of repayment.
The New Function of the Mt. Gox Rehabilitation System
The Mt. Gox Rehabilitation System now has a feature designed to expedite the repayment of exchange creditors. The feature allows signing up to select a repayment method. She was featured in an opinion published on October 6, 2022. That said, each creditor will have to register their personal information after logging into the online application filing system.
Creditors have until January 10, 2023 to register and select their repayment methods. After this date, they will no longer be able to be reimbursed. Several means of repayment are available to creditors. In particular, Mt. Gox has planned to pay its former customers an advance lump sum.
Creditors can choose to have a share of rehabilitation debts reimbursed in cryptos. They have the option of opting for payments by bank transfer. They can also recover their assets through a money transfer service provider.
Information to consider
In addition, the bitcoin exchange asks its creditors to get acquainted with several explanatory documents which he provided. Among these, there is a notice concerning the modification of the recovery plan and the obtaining of a payment authorization.
There is also a series of information on the financial situation of the Mt. Gox exchange. Some documents reveal the income and expenditure status of the BTC exchange. Finally, there is a guide to choosing a crypto exchange or a custodian.
According to the notice that introduced the new function of the exchange’s rehabilitation system, the Mt. Gox saga is coming to an end. However, as one creditor pointed out, repayment of funds from all creditors could take several years.
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