Mt. Gox prepares to launch creditor reimbursement plan, to begin partial cash payouts by the end of this year.

The once-largest Bitcoin exchange in the world, Mt. Gox, which has been entangled in legal proceedings for nearly a decade, has indicated its readiness to initiate a crucial compensation plan. This plan aims to compensate creditors who have been waiting since the platform's collapse in 2014.

"Will the 'Rehabilitation Plan Implementation' Continue to Wait This Year?"

In an email received by Mt. Gox creditors today, the trustee of Mt. Gox revealed an uplifting message: plans to begin partial repayments in cash will commence this year. This news undoubtedly brings a glimmer of long-awaited hope to the creditors who have been waiting for compensation.

we’re finally getting our MtGox bitcoin back pic.twitter.com/s96jbq2QRt

— read.pourteaux.xyz (@pourteaux) November 22, 2023

Mt. Gox Repayment Progress and Challenges

While this news is encouraging, the trustee of the liquidation, Nobuaki Kobayashi, cautioned that due to the large number of affected creditors, the repayment process may extend until 2024. He emphasized that, due to various factors, it is currently not possible to provide a specific repayment schedule for individual creditors.

Supervision of Mt. Gox's bankruptcy by the Japanese exchange

140,000 BTC time bomb delayed again, Mt. Gox creditors' repayment date postponed for another year