Mt. Gox Postpones Repayment Deadline Again, Pushing to April

Just one day before the scheduled repayment window was set to open, Mt. Gox has announced another delay, pushing the deadline to April 2023.

Mt. Gox Delays Repayment Deadline Again, Now Set for April

As reported by Coin68 in early January 2023, Mt. Gox had initially rescheduled the repayment of Bitcoin to March 10, with a processing deadline extended to September 30. This delay was seen as a "ticking time bomb" putting significant pressure on the community, as creditors were expected to potentially flood the market with the received tokens.

However, with the final deadline just one day away, Mt. Gox has unexpectedly announced another extension of approximately one month. According to the latest announcement, the new deadlines are:

• The deadline for creditors to register for asset recovery has been moved from March 10 to April 6, 2023.
• The deadline for Mt. Gox to complete payments to creditors is now extended from September 30 to October 31, 2023.

Just when it seemed like creditors might finally receive their BTC after nearly nine years of litigation, Mt. Gox has once again employed a delaying tactic. The community has responded with frustration, with some joking that they might never see their coins due to Mt. Gox's continuous delays.

In another development, there have been rumors that Mt. Gox’s largest creditor plans not to sell their Bitcoin, though this has yet to be confirmed.

Despite the ongoing saga, Mt. Gox remains a persistent “thorn” in the crypto community’s side, causing anxiety every time there is news about the exchange’s repayment.

According to the balance sheet, the Mt. Gox trustee currently holds 142,000 BTC, 143,000 BCH, and 69 billion Japanese yen (approximately $510 million USD). However, the exact amount for this initial repayment remains unclear.