Mt. Gox repayment registrations close: Here’s what’s next

cointelegraph.com:

The saga of the Mt. Gox cryptocurrency exchange and the repayment of its creditors continues, as the company released a new statement as to what to expect now that its registration window has closed. 

On April 7, the former exchange released a statement from its rehabilitation trustee Nobuaki Kobayashi, that said the deadline for creditors to provide their repayment information - clarification of payee and payment type- has passed. 

It then went on to say that “base repayment, intermediate repayment and early lump-sum repayments” will be carried out until Oct. 31, 2023, though this final deadline “might be extended with the permission of the Tokyo District Court.”

The note also said that the trustee will carry out the “necessary preparations” to make the repayment, which includes confirmation of the selections for repayment and the sharing of the information with banks, fund transfer providers, cryptocurrency exchanges or any other custodian involved in the repayment.

For this reason, the note read: "In light of this, it is expected to take some time before the repayment is commenced.”

The initial demise of the exchange happened in 2014 when it was forced to shut down after a hack amounting to the loss of 850,000 Bitcoin (BTC). Despite the FTX catastrophe that took place in Nov. 2022, Mt. Gox's demise remains the greatest crypto robbery in history. 

There have been continual delays in the situation surrounding the repayment of funds to those affected. In 2018, nearly four years later, a Japanese court approved a plan for compensation. 

Related: FTX Bitcoin stash worth same as Mt. Gox 840K BTC before hack

In March 2020, Kobayashi announced a new system for the remaining funds to be claimed by creditors, through proof