The defunct cryptocurrency exchange Mt. Gox has extended its repayment deadline to October 31, 2025, pushing it back by a year from the previous date.
This decision was made with court approval, as the Rehabilitation Trustee aims to ensure that repayments to creditors are carried out as smoothly as possible.
This marks the second postponement of the repayment timeline; earlier in 2023, the deadline was shifted from October 31, 2023, to the current date. Once the largest crypto exchange, Mt. Gox handled about 70% of Bitcoin transactions before its downfall in 2014 due to a significant hack that resulted in the loss of approximately 850,000 Bitcoin.
In July, the exchange began distributing around $9 billion in recovered assets to creditors, but it still retains about 44,905 Bitcoin, valued at roughly $2.8 billion, according to Arkham Intelligence. The recent delay in repayments is attributed to creditors not completing necessary procedures and complications in the repayment process itself.
