Exchanges  •  Mt. Gox

Trustee Extends Online Deadline for Mt Gox Claimants

(@yessi_kbello) | Published on July 6, 2015 at 11:09 GMT
News

Customers affected by Mt Gox's insolvency have been given more time to file their online bankruptcy claims.

The claim process was previously due to close at the end of May. However, a document from bankruptcy trustee Nobuaki Kobayashi, released on the former exchange's webpage today, indicated the deadline has now been extended until 12pm on 29th July (Japan time).

Past this new date, affected users will only be able to view their existing bankruptcy claims online or transfer these to somebody else.

"Nearer the time of distribution, the bankruptcy trustee is planning to give users an opportunity to use the system again to make changes to the details of their bankruptcy claims other than increasing the amount of the bankruptcy claims that users have filed," noted the document.

The online process, overseen by Kobayashi and bitcoin exchange Kraken, was created to cater for the majority of Mt Gox creditors who live outside Japan.

Missing coins

One of the world's first bitcoin exchanges, Mt Gox halted operations in February 2014 following an alleged loss of 850,000 bitcoins, then around $454m.

Although investigations are ongoing, Wizsec, a group looking into the exchange's closure, asserted most of its funds were stolen a year before Mt Gox's collapse, meaning it had been operating as a fractional reserve system.

According to Kraken CEO Jesse Powell, creditors can expect to receive no more than 20% of their original account balance.

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