Earlier today on 15th December, Mt. Gox’s trustee Nobuaki Kobayashi filed draft rehabilitation documents to refund Mt. Gox users. Consistent with an official announcement posted on the Mt. Gox website, the Tokyo District Court and an examiner will review the draft rehabilitation plan and determine whether to proceed with the rehabilitation proceedings as a part of the draft rehabilitation plan.
This move comes shortly after Kobayashi received another approval to further increase the deadline for submitting a rehabilitation plan earlier in October this year. As reported, the Tokyo District Court extended the deadline until 15th Dec., this year. Kobayashi earlier obtained a variety of comparable deadline extensions in March 2020 and April 2019.
Launched earlier in 2010, Mt. Gox suffered the most versatile cryptocurrency hack in history. As reported, the exchange lost a complete sum of 1.35 Mln Bitcoin [BTC] in two hacks in 2011 and 2014.
Mt. Gox users have still not received compensation for their hacked funds. Kobayashi, a Japanese lawyer who was appointed to oversee the civil reimbursement process, reportedly has 150k BTC to repay users. However, the refunds were postponed multiple times.
The renowned Japanese cryptocurrency exchange Mt. Gox is finally moving forward with its user rehabilitation plan after facing major hacks in 2011 and 2014.
Some other defunct cryptocurrency exchanges have also been moving forward with reimbursement plans recently. Earlier on 9th Dec., the liquidator of the now-defunct cryptocurrency exchange Cryptopia started the claims process to reimburse creditors after the 2019 hack.