Mt. Gox Extends Repayment Deadline to 2024

Mt Gox

Mt. Gox, which lost 850,000 Bitcoins in 2014 due to a security breach, has extended its repayment deadline to October 31, 2024. This year, two individuals were charged by the U.S. DOJ for conspiring to steal a portion of the stolen BTC, which is now worth nearly $23 billion.

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In the ongoing Mt. Gox saga, the trustee overseeing the defunct Bitcoin exchange’s estate, Nobuaki Kobayashi, has extended the deadline for repaying creditors. Originally set for October 31, 2023, the new repayment deadline is now October 31, 2024.

However, there’s a glimmer of hope as repayments may start by the end of this year, providing some relief to affected creditors.

The Mt. Gox security breach occurred on February 25, 2014, resulting in the loss of 850,000 Bitcoins belonging to investors, valued at nearly $23 billion today. The exchange managed to recover about 20% of the stolen tokens after the hack.

Earlier this year, the U.S. Department of Justice charged two Russian men, Alexey Bilyuchenko and Aleksandr Verner, with conspiring to steal approximately 647,000 Bitcoins from Mt. Gox between 2011 and 2014, a significant step toward holding those responsible for the historic cryptocurrency theft accountable.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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