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Mt. Gox Rehabilitation Trustee Changes Repayment Deadline (Yet Again)

2 mins
Updated by Kyle Baird
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In Brief

  • Mt. Gox trustee Nobuaki Kobayashi has extended the repayment deadline for creditors from Oct 31, 2023, to Oct 31, 2024.
  • The extension was due to time constraints on gathering information from creditors and sharing it with banks and exchanges.
  • The defunct crypto exchange, Mt. Gox, still holds 142,000 BTC, 143,000 BCH, and 69 billion yen (around $US465 million).
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The Mt. Gox exchange trustee responsible for paying back the firm’s creditors has officially changed the deadline, extending it for another year. This outcome will not please those whom the defunct crypto exchange still owes money to.

On September 21, Nobuaki Kobayashi, the Mt. Gox trustee and attorney, wrote that he has extended the repayment deadline from October 31, 2023, to October 31, 2024.

Mt. Gox Repayments Delayed 

He stated that the extension had been granted with the permission of the Tokyo District Court. Moreover, it extends the deadline for the base repayment, the early lump-sum repayment, and the intermediate repayment.

The letter noted that repayments could be made as early as the end of this year for rehabilitation creditors who have already provided the necessary information.

It stated that they extended the deadline due to time restraints on gathering information from rehabilitation creditors. Confirming information and sharing it with banks and exchanges also caused delays, according to the letter. 

“The rehabilitation trustee will not be able to complete the repayments by the deadline of the base repayment, the early lump-sum repayment, and the intermediate repayment, all of which were set for October 31, 2023.” 

Mt.Gox Rehabilitation Trustee letter. Source: X/@WuBlockchain
Mt.Gox Rehabilitation Trustee letter. Source: X/@WuBlockchain

Mt.Gox holds 142,000 BTC, 143,000 BCH, and 69 billion yen (around $465 million), among others, noted industry observer Colin Wu. 

There have been multiple extensions to deadlines for creditors of the failed Tokyo Bitcoin exchange. Selection and registration deadlines were extended first to March 10 and then eventually to April 6, 2023.

Defense With a Calculator

On September 13, Mt. Gox co-founder Mark Karpelès said a scientific calculator he bought in jail was sufficient to prepare a defense.

At the time, he said the calculator was the preferred tool for accounting-related crimes, which helped him prove the company earned more than it spent.

Ripple co-founder Jed McCaleb launched the exchange in 2010. However, Mt. Gox filed for bankruptcy protection in Tokyo in February 2014. This followed the loss of more than 800,000 BTC due to suspicious wallet activity. 

Mt. Gox was one of the first crypto exchanges, facilitating more than 70% of all BTC trades at its peak.

Top crypto platforms in the US | December 2023


In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

Martin Young
Martin has been covering the latest developments on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.