Trustee of Mt. Gox Updates Bitcoin and Fiat Payment Schedule

Users of the hacked cryptocurrency exchange Mt. Gox have received another positive signal regarding compensation for being the trustee of Mt. Gox has updated some important payment dates.

Many creditors of Mt. Gox have reported that their accounts claim Mt. Gox are updated with information about Bitcoin (BTC), Bitcoin Cash (BCH), and fiat payments. Many say cryptocurrency payments are coming soon.

Some of the first reports of this type appeared on the bankruptcy subreddit Mt. Gox in mid-April, where users reported unpaid balances in the payment data table on their accounts.

According to a screenshot shared by the lender, the accounts of Mt. Gox Receivables now displays a table with payment status and other entries, such as completed payment amounts and outstanding payment amounts.

As shown by several posts on the bankruptcy subreddit of Mt. Gox, some creditors have already received fiat coins in their bank accounts.

“I received money in USD in an HSBC currency account and it seems like there are no fees,” as one creditor of Mt. Gox am 22. April he wrote. He added that the payment was made more than a month after the spreadsheet was first updated in the accounts receivable.

“The table didn’t update until March 15th, then April 8th, then April 18th when the BTC lines arrived,” said the Redditor.

The mention of Bitcoin in the account in the form of Mt. Gox is an important step for creditors of Mt. Gox, indicating that payments will be in crypto or fiat, the lender of Mt. Gox told Cointelegraph.

“In comparison, the Japanese plaintiffs received a notice on their website last December and within two weeks had fiat in their accounts through PayPal and private banks,” the lender said. He added: “Let’s hope that crypto transfers work as well as fiat ones.”

The exchange of Mt. Gox, founded in 2010 and now defunct, was the largest Bitcoin exchange in the world, accounting for about 70 percent of all BTC transactions before the implosion. The platform lost 850,000 BTC due to a security breach in 2014.

Mt. Gox is expected to pay its creditors 142,000 in Bitcoin and 143,000 in the form of split Bitcoin Cash and the equivalent of 510 million US dollars by October 2024.

The latest updates to the spreadsheet followed the completion of the verification of the identity of Mt. Gox and their cryptocurrency exchange accounts that will be used to pay Bitcoin and Bitcoin Cash in January 2024. Platforms include Bitstamp, Kraken, Bitbank, BitGo and SBI VC Trade.