Some Mt. Gox Creditors Has Received BTC/BCH Refunds

Bittime - Previously, it was reported that Mt. Gox will begin paying back its post-bankruptcy creditors in 2014. Some creditors of Mt. Gox in Japan has started accepting refunds in the form of Bitcoin (BTC) and Bitcoin Cash (BCH).  

Schedule of Refunds to Creditors by Mt. Gox

According to documents published by the trustees of Mt. Gox, the time it takes for creditors to receive Bitcoin or Bitcoin Cash returns varies depending on the crypto exchange used. 

Creditors using Kraken accounts may have to wait up to 90 days, while Bitstamp may take up to 60 days. BitGo will complete payouts within 20 days, while SBI VC Trade and Bitbank will complete returns within 14 days.

Return Process at Designated Crypto Exchanges

Trustee Mt. Gox explained that each designated crypto exchange must add the appropriate amount of BTC/BCH to the creditor's account balance or transfer it to the wallet associated with the account within a certain period of time after the BTC/BCH is transferred from the trustee. 

For example, today Mt. Gox had transferred 47,228.7 BTC (approximately $2.71 billion) to the wallet and then transferred the assets in several transactions, including sending 1,545 BTC ($85 million) to a hot wallet on Bitbank.

The Trustee also stated that returns to eligible creditors will be made as soon as possible after several conditions are met, including confirmation of the validity of the registered account, acceptance of the intention to subscribe to the agreement by the designated cryptocurrency exchange, as well as completion of discussions with the trustee.

Waiting for Mt. Creditors Gox Since 2014

Mt. Gox, once one of the world's largest cryptocurrency exchanges, went bankrupt in 2014 after losing around 850,000 BTC to a hack. 

Since then, creditors have waited years to get their funds back. This process of returning funds is part of the rehabilitation plan that has been long awaited by creditors.

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor graphic movement Bitcoin (BTC), Ethereum (ETH), Solana (SOL) price and other cryptos to find out today's crypto market trends in real-time on Bittime.