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Mt. Gox Bitcoin Issuance Update Released

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Mountain. The Gox trustees have released a new update on distribution. Nobuaki Kobayashi, the trustee of long-defunct cryptocurrency exchange Mt. Gox, provided details on the creditor distribution plan on Wednesday. According to the document, the restricted reference period begins on September 15.

Any other means at this stage are prohibited. When the first cryptocurrency exchange failed in 2014, the deadline for creditors to file their claims was Sept. 15, Kobayashi said.

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mt. Gox Bitcoin Distribution Update Release 3

When will Mt. Gox repay?

Nearly 99% of eligible users affected by the case have authorized rehabilitation programs that outline The duration and designation will follow the plan by first repaying the creditors in full.

The document also states that the trustee may not be able to decide to whom repayment should be made if a notice of assignment is given during the restricted period.

Twitter speculation about a 137,000 BTC sell-off earlier this week weighed on the cryptocurrency market. Creditors later denied the rumors circulating on social media.

One of them warned against trusting Twitter “influencers” and said they had no intention of selling bitcoin.

Lender Eric Wall uses Twitter to refute baseless allegations and explain why Bitcoin holders should ignore this myth and stop anyone spreading it out there People:

As one of the first cryptocurrency exchanges, Mt. Gox previously enabled over 70% of all transactions within the blockchain ecosystem. After a major attack in 2011, the site allegedly went bankrupt and disbanded in 2014.

The impact affected approximately 24,000 creditors and lost 850,000 BTC. The exchange’s trustee said in November 2021 that a proposal for a fix was pending in Japanese courts. It is one of the final stages of a protracted process that began in 2018 with petitions to pay creditors.



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