MtGox Investor Compensation Start Date Moved to September

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Creditors of the bankrupt MtGox exchange have had their registration deadlines and choice of method of receiving compensation extended by two months. The next payments are expected in September.

According to the latest court decision, the termsregistration and selection of the method of compensation for losses for MtGox creditors was postponed from January 10, 2023 to March 10, 2023. In addition, the date of the first payment has been postponed from July 31 to September 30.

In a statement from the temporary administration of MtGoxIt says lenders who complete the registration process will receive a base payment. In addition, they will receive an early lump sum payment or can later choose a different form of repayment.

Cryptocurrency exchange Bitstamp, based inLuxembourg, announced that it will support the efforts of the interim administration of MtGox to pay off the debt. Lenders who use Bitstamp as a crypto exchange operator will receive refunds through their account.

In total, creditors are owed 141,686 BTC, the cash equivalent of the sale of 42,846 BTC and 69.7 billion Japanese yen. This compares to the 850,000 BTC stolen by hackers in the MtGox hack.