Transferring Mt. Gox claims will no longer be possible after September 15

Transferring Mt. Gox claims are possible until September 15, according to a document from the company. After that, the process begins that should eventually lead to payment to creditors. When that is remains unknown.

After the deadline, the company will start collecting payment data to start paying out, according to the text of the announcement. Recently, many creditors have sold and transferred their claim in order to get money for the lost bitcoins. That is no longer allowed after September 15.

The payment is the result of a settlement between the trustee and the claimants. A vast majority of affiliated victims agreed with the proposal last year. Under the plan, about 90 percent of the slightly more than 141,000 bitcoins under the trustee’s control could be distributed to victims. That’s about a fifth of the total number of bitcoins that Mt. Gox then in his possession. Victims can get back part of the bitcoins they had stored at the stock exchange during the bankruptcy.

The case revolves around the bankruptcy of Mt. Gox in 2014, which was the largest cryptocurrency trader at the time. At least 650,000 bitcoins were lost during the bankruptcy. At that time they had a value of about 1000 euros each. The trustee managed to recover approximately 200,000 coins from this. Since the bankruptcy of Mt. Gox, the trustee has already converted some of the bitcoin into fiat money, in order to secure the previously agreed payout of approximately $400 per bitcoin.

Claim on site Mt Gox, September 2022