The defunct cryptocurrency exchange Mt. Gox has announced a delay of one year in its plan to reimburse creditors, extending the deadline for fund returns to October 31, 2025.
This decision was made due to the incomplete procedures of many creditors, who have yet to receive their repayments.
Mt. Gox, previously responsible for handling approximately 70% of global Bitcoin transactions, collapsed in 2014 after a series of hacking and security breaches that resulted in a suspension of withdrawals. When the exchange went offline, around 127,000 users were left with locked funds.
Nobuaki Kobayashi, the trustee in charge of managing Mt. Gox’s assets, attributed the slow repayment process to various complications.
Along with creditors’ incomplete procedures, technical issues such as double deposits to certain users had caused delays.
