MtGox Lender Distribution Deadlines Postponed to October

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Creditors of the bankrupt cryptocurrency exchange MtGox have once again extended the deadlines for registration and choosing a method of receiving compensation. The date of the first payment has been postponed to October.

According to the press release, the deadline is optional.distribution options have been moved from March 10 to April 6, and the first payment date has been moved from September 30 to October 31. The statement noted that the team is dealing with a “high volume of inquiries” and may not be able to respond to creditors in a timely manner if they have questions about the process. 

Creditors must register their claims by April 6, and those who miss the deadline "will not be able to receive any payments," the letter said. 

In addition, as reported by Bloombergciting its own sources, the investment fund MtGox Investment Funds (MGIF), the largest creditor of the bankrupt crypto exchange, is not going to sell the tokens that it will receive as compensation.

Back in 2021, the trusteeMtGox Nobuaki Kobayashi offered MGIF two options - an early lump sum payment of 90% of the claims or waiting for the end of the bankruptcy process, as a result of which creditors could receive a larger amount. MGIF chose the first option.