Repayment Deadline Pushed for Third Time
The rehabilitation trustee for Mt. Gox announced on Monday that creditor repayments will now extend until October 2026. This marks the third postponement since the original deadline was set for 2023. The extension was confirmed just four days before the previous deadline of October 31, 2025.
According to the trustee's official statement dated March 27, 2025, approximately 19,500 creditors have already received their repayments in Bitcoin and Bitcoin Cash. However, thousands more remain unpaid. These delays are attributed to incomplete eligibility procedures or processing complications that arose during the verification process.
The trustee indicated that base repayments, early lump-sum distributions, and intermediate payments have been "largely completed" for creditors who successfully finished their paperwork without encountering issues. The trustee secured court permission to extend the new deadline by an additional year to accommodate the remaining claimants.
Mt. Gox Asset Holdings
Mt. Gox currently holds 34,689 Bitcoin in its wallet address. Based on current market conditions, this amount is valued at approximately $4 billion. This significant portion of assets is being managed throughout the lengthy rehabilitation process.
Background of the Mt. Gox Collapse
Founded in 2010, the Tokyo-based exchange rapidly grew to become one of the world's largest Bitcoin trading platforms. However, the platform faced a catastrophic event in 2014 when a security breach led to the loss of 850,000 Bitcoin. This incident forced the exchange to halt withdrawals and subsequently seek bankruptcy protection.
Distribution Plans and Progress
In September 2023, the trustee outlined plans to reimburse creditors with recovered assets. These assets include 142,000 Bitcoin, 143,000 Bitcoin Cash, and 69 billion Japanese yen, which was approximately $510 million in fiat currency at the time. Since mid-2024, multiple creditors have confirmed receiving distributions through exchanges such as Kraken and Bitstamp.
The initial deadline of October 31, 2023, has now been extended twice. These extensions highlight the intricate nature of processing claims across various international jurisdictions. The rehabilitation process continues to navigate the complex balance between legal requirements and the practical challenges of distributing cryptocurrency assets to a global base of thousands of creditors.