The saga of crypto exchange Mt. Gox, which has been defunct for a long time, unfolded further as the firm’s rehabilitation trustee announced another delay in creditor repayments, thus extending the deadline by one year to October 31, 2026. This update is coming just days before the previous deadline of October 31, 2025.
The trustee in charge of the rehabilitation wrote in an official statement on Monday that a considerable portion of the repayments had actually been made, but on the other hand, there were still some creditors who had not been paid because their procedures were incomplete or there were administrative issues. This communication to the public is the third one this year in which the repayment timeline has been extended since 2023.
The trustee mentioned that Mt. Gox has “largely completed” the base, early lump-sum, and intermediate repayments for those creditors who are eligible and have properly verified their procedures. Up to now, some 19,500 creditors have been paid in bitcoin, bitcoin cash, and fiat currency.
It was stated that numerous creditors had a delay in their repayments due to problems regarding their documentation, verification, or exchange accounts, which were utilized for repayment. The statement read, “As it is desirable to make the repayments to such rehabilitation creditors to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline for the repayments from October 31, 2025, to October 31, 2026.”
The trustee of Mt. Gox committed again to making the payouts accurate and in accordance with the law to all those eligible and stressed that they would keep in touch with the interested parties as the process takes place.
Completely dominating the bitcoin market worldwide, Mt. Gox was forced to shut down in 2014 after a security breach of such magnitude that 850,000 BTC were lost. The exchange gave up the ghost and filed for bankruptcy a short time later, thus leading to a crypto insolvency case of historic proportions.
The trustee announced a short while ago that the creditors would be repaid with 142,000 bitcoins, 143,000 bitcoin cash, and 69 billion Japanese yen (roughly $510 million). The information on the blockchain coming from Arkham Intelligence reveals that the exchange is still in possession of 34,689 BTC, which is worth approximately $4 billion, in its official wallet address.
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