Key Takeaways
- Mt. Gox creditors reported receiving confirmation that their registered exchange accounts had passed ownership and identity checks.
- The trustee said a later agreement would allow an exchange or custodian to receive Bitcoin and Bitcoin Cash repayments on a creditor’s behalf.
- The email was an administrative step in the repayment process, not confirmation that crypto repayments had begun.
Mt. Gox creditors have reported receiving emails confirming that their registered cryptocurrency exchange or custodian accounts had completed account-ownership and identity checks. The emails concerned a required step before BTC and BCH repayments could be made through a selected provider.
Trustee Confirms Registered Exchange Accounts
According to an email shared by a creditor, the rehabilitation trustee provided the details registered in the Mt. Gox Online Rehabilitation Claim Filing System to the creditor’s selected exchange or custodian.
The email said the exchange had confirmed that the creditor owned the account and had completed identity verification.
The trustee said the exchange was expected to accept an application to receive BTC and BCH repayments on the creditor’s behalf. A separate agency receipt agreement would then be concluded between the creditor and the exchange or custodian.
The trustee said creditors would receive another email once that agreement had been completed.
Email Warns Against Frozen or Disabled Accounts
The notice warned that creditors might not be able to receive BTC or BCH repayments if their selected exchange account was later disabled or frozen.
Creditors whose accounts were frozen or disabled could not receive BTC or BCH through that provider.
The email did not provide a date for BTC or BCH transfers.
Mt. Gox Collapsed After Its 2014 Bitcoin Losses
Mt. Gox was once the world’s largest Bitcoin exchange and was reported to handle around 70% of global Bitcoin trading volume at its peak.
The Tokyo-based platform filed for bankruptcy in February 2014 after reporting the loss of approximately 850,000 BTC. Creditors have since pursued repayment through Japan’s civil rehabilitation process.
Former Mt. Gox CEO Mark Karpelès was convicted in Japan in 2019 of falsifying company records. He was acquitted of an embezzlement charge in the same case. The trustee had not announced a date for BTC and BCH repayments.
