Mt.Gox extended the registration deadline of repayment scheme selection to April 6 again

On March 9, according to the latest email of Mt.Gox, with the consent of the court, the deadline for application for claims was changed from March 10, 2023 to April 6; The deadline for repayment was postponed from September 30, 2023 to October 31. The email said that it would be difficult to extend the deadline further unless there were unavoidable reasons. At present, the remaining amount to be paid by Mt.Gox is about 142000 BTC, 143000 bit cash (BCH) and 69 billion yen.

Interpretation of this information:

The latest email from Mt.Gox, a well-known Japanese cryptocurrency exchange platform, announces significant updates regarding the deadline for claims and repayment. According to the email, with the consent of the court, the deadline for application for claims was extended from March 10, 2023, to April 6, 2023. Moreover, the deadline for the repayment was postponed from September 30, 2023, to October 31, 2023. Mt.Gox also stated that there would be no further extensions provided unless unavoidable circumstances arise.

Since the infamous hack that happened in 2014, where 850,000 bitcoins (worth approximately $450 million at that time) were stolen, Mt.Gox has been in the process of returning the remaining funds to its customers. The email also provided an update on the current amount yet to be repaid, which is about 142,000 BTC, 143,000 bit Cash (BCH), and JPY 69 billion, equivalent to $630 million.

This recent update from Mt.Gox bears importance for those who are impacted by the hack and are looking to file claims, as they now have an additional few weeks to do so. Moreover, the extension of the repayment deadline provides more time for Mt.Gox to distribute the remaining funds to its customers, possibly increasing the chances of a more equitable distribution.