The collapsed exchange has begun repaying its debts to creditors through select crypto exchanges, following the Rehabilitation Plan.
Mt. Gox, the failed crypto exchange, has started paying back its debts in Bitcoin (BTC) and Bitcoin Cash (BCH).
Mt. Gox Begins Repayments to Creditors
Repayments are being made to some rehabilitation creditors via designated crypto exchanges in accordance with the Rehabilitation Plan.
“On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges etc. in accordance with the Rehabilitation Plan.”
Mt. Gox Repayments to Continue After Meeting Conditions
The repayments to the remaining rehabilitation creditors will be “promptly made” after multiple conditions have been met.
These conditions include confirming account validity and creditors’ acceptance of the intent to subscribe to the Agency Receipt Agreement by designated crypto exchanges.
In addition to ensuring repayments are made safely and securely, discussions regarding repayment procedures between the Rehabilitation Trustee and the exchanges must also be completed.
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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