Mt. Gox extends creditor repayment deadline by one year

The defunct cryptocurrency exchange Mt. Gox has extended its debt repayment deadline by one year, from Oct. 31, 2025, to Oct. 31, 2026, The Block reported. The extension was granted because many creditors have not yet received their funds after failing to complete the necessary procedures, even as most interim payments have been finalized. The Mt. Gox bankruptcy trustee’s office stated the delay is intended to ensure repayments can be made to these creditors within a reasonably feasible scope. This marks the third extension of the repayment deadline since the first was announced on Oct. 31, 2023. Mt. Gox, founded in 2010, filed for bankruptcy in 2014 after a hack resulted in the loss of 850,000 BTC. In September 2023, the exchange announced a plan to repay users with recovered assets, including 142,000 BTC, 143,000 BCH, and 69 billion yen (around $441 million). According to the most recent data from March 27, the trustee has repaid BTC and BCH to 19,500 users and currently holds 34,689 BTC, valued at $4 billion.