The letter states that MtGox trustee Nobuaki Kobayashi “is making efforts to begin cash distributions during calendar year 2023.” However, it is likely that payments will continue until 2024, given the large number of creditors.
“Specific payment dates for individual creditors have not been determined and, therefore, it will not be possible to provide advance notice to each creditor regarding their specific payment dates,” the letter states.
The statement also notes that lenders can check the status of repayments in their claims system.
In September, the court allowed MtGox to extend the deadline for repayment of payments to hacking victims until October 31, 2024. It was previously announced that creditors’ losses would be reimbursed by October 31 this year. However, Kobayashi said the trustee could not complete the payments by the agreed date.
MtGox creditors have been waiting for repayment for almost a decade, and the payment deadline has already been postponed several times. In the future, debt repayment may affect the Bitcoin price as creditors begin to sell or exchange the received crypto assets.
Former MtGox traders have long feared that payments to victims of hacking would collapse the Bitcoin market. Therefore, a delay in implementing the rehabilitation plan could contribute to Bitcoin’s bullish trend.
Source: Bits
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