Mt. Gox trustee approves creditor claims worth billions

posted 5 months ago
Defunct Bitcoin exchange Mt. Gox is moving towards settling creditors’ accounts in cryptocurrency or cash. The exchange’s trustee, Nobuaki Kobayashi, said he either approved or disapproved creditors’ claims and notified the Tokyo District Court. In the next few days, creditors will be notified by various means. Creditors who did not file claims will still have their claims acknowledged by the trustee in line with the Civil Rehabilitation Act of Japan.

The trustee said the current balance of the exchange is $629,594,540 in cash & 141,686 BTC. The trustee approved claims for 802,521 BTC (worth $3,233,256,500). Notably, there is a large shortfall from what is held in crypto and what is due to be paid out. It is not clear how that matter will be addressed when payments eventually start.
Tags: bitcoin, news