Mt. Gox sets deadline for creditors ahead of Bitcoin (BTC) estimated payout of $3,080,678,698

Creditors of defunct crypto exchange Mt. Gox will be given an extended deadline to meet the requirements needed to receive a payout under the platform’s bankruptcy rehabilitation plan.

Mt. Gox Rehabilitation Trustee Nobuaki Kobayashi announced that former customers of the exchange have until March 10 (Japan time) to select their repayment method and submit the payee’s information in the Mt. Gox Online Rehabilitation Claim Filing System to register.

The deadline was previously set for January 10.

The announcement states that those who do not complete the process by the deadline will not receive:

• Early Capital Repayment
• Repayment of part of the cryptocurrency rehabilitation claims in cryptocurrency
• Refund by bank transfer
• Refund by bank transfer through a money transfer service provider

In his October Noticethe trustee says that those who fail to complete the eligibility and registration requirements on time must bring the required documents to Mt.Gox headquarters or other designated location and receive the payout in Japanese yen.

As of Sept. 30, Mt. Gox holds 141,686 in Bitcoin (BTC) that are being distributed to creditors. Based on the current price of the leading cryptocurrency of $21,743, the asset is valued at around $3.08 billion.

Mt. Gox used to process over 70% of Bitcoin’s trading volume but went bankrupt in 2014 after the platform was hacked.

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