Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The Mt. Gox trustee rehabilitation plan is purportedly coming in mid-December.
The trustee of the now-defunct Japanese cryptocurrency exchange Mt. Gox has obtained another approval to extend the deadline for submitting a rehabilitation plan.
Following a motion by Mt. Gox rehabilitation trustee Nobuaki Kobayashi, the Tokyo District Court issued another order to extend the deadline until Dec. 15, 2020, according to an official announcement posted on the Mt. Gox website on Oct. 15.
Similarly to previous statements on deadline extensions, the new announcement specifies that the rehabilitation trustee is still formulating the plan, but āthere are matters that require closer examination,ā so it āhas become necessary to extend the submission deadline.ā
As reported by Cointelegraph, Kobayashi received a number of similar deadline extensions in March 2020 and April 2019.
The Mt. Gox crypto exchange is known for encountering the largest cryptocurrency hack in history. As reported, the exchange lost a total of 1.35 million Bitcoin (BTC) in two hacks in 2011 and 2014.
Despite the hacks happening years ago, Mt. Gox customers have still not received compensation for their stolen funds. Kobayashi, a Japanese lawyer who was appointed to oversee the civil reimbursement process, reportedly has 150,000 BTC to repay users. However, the refund process has been delayed multiple times since 2019.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.