Mt. Gox Extends Repayment Deadline to October 2025

The trustee managing the assets of the defunct crypto exchange Mt. Gox has announced a new deadline for creditors to receive their repayments, now set for October 31, 2025. This extension comes as over 44,900 BTC remains unpaid to affected creditors.

According to an official announcement, many repayment claims have not been fulfilled as creditors have not completed the necessary procedures required to initiate the repayments.

Background of Mt. Gox

Mt. Gox was one of the pioneering cryptocurrency exchanges, which at its peak managed approximately 70% of all Bitcoin (BTC) transactions globally. However, it experienced significant security incidents and hacks, leading to the suspension of withdrawals and its eventual collapse in 2014. This incident locked the funds of around 127,000 users, creating a protracted recovery process.

Current State of Repayments

In July, the trustee began the distribution of approximately $9.4 billion to creditors, although it is reported that wallets associated with the exchange still hold $2.8 billion in outstanding assets. Nobuaki Kobayashi, the trustee, highlighted that many creditors are yet to receive payments due to incomplete processes on their part, as well as various complications during the repayment procedures.

“Many rehabilitation creditors still have not received their repayments because they have not completed the necessary procedures for receiving repayments.”

Challenges in the repayment process have included incidents of double payments to some users due to “system issues.” The exchange has since acknowledged this mistake and requested the return of these overpaid amounts.

Impact on Bitcoin and Market Concerns

The repayment situation raises questions about its effects on Bitcoin prices. Up until the end of July, over 41.5% of redistributed BTC, totaling approximately 59,000 BTC, had been allocated to creditors. Reports indicated that creditors were holding around $4 billion in funds at that time.

Ultimately, a total of 141,686 Bitcoin will be returned to creditors, along with Bitcoin Cash (BCH) and fiat currency, concluding a decade-long wait and extensive legal battles in Japan. As of the latest update, the price of Bitcoin stands at $62,926, reflecting a 5.3% increase over the past 24 hours.