Mt. Gox delayed the payment deadline, pushing it to October 2025.
The canceled exchange had an original payment deadline of October 31, 2024. According to MitGox, the delay was due to creditors not completing payment steps and issues with the payment process.
The discontinued crypto exchange Mt. Gox pushed the payment deadline to October 2025, adding another year to the original date.
In a statement, the exchange said it will now repay creditors by October 31, 2025.
“Due to the need to implement a reasonable rate of payment to such rehabilitation creditors, the rehabilitation trustee has, with the permission of the court, changed the payment deadline from October 31, 2024 (Japan Standard Time) to October 31, 2025 (Japan Standard Time),” Mitt Gox said.
This is the second time that the platform has been moved for the last time. In the 2023 statement, the platform announced that it has moved the payment deadline from October 31, 2023 to October 31, 2024.
In the year Launched in 2010, Gox was the largest crypto exchange, handling 70% of Bitcoin transactions, before it collapsed in 2014 due to hacking. Due to his security breach, the exchange lost about 850,000 Bitcoin.
In July, he began repaying creditors for about $9 billion in repossessed assets; However, according to data from Arkham Intelligence, MT Gox still holds 44,905 bitcoins worth around $2.8 billion.
In the final statement from the suspended exchange, the delay was reduced to two factors: creditors not completing the necessary steps for payment and issues arising in the payment process.
