The Mt. Gox trustee announces the approval of the restoration plan, which means that creditors may receive billions of dollars soon

Creditors of the now-defunct cryptocurrency exchange Mt. Gox overwhelmingly approved a repair plan to compensate them for the billions of bitcoin they lost.

According to Mt. Gox’s trustee Nobuaki Kobayashi’s announcement on Wednesday, approximately 99% of creditors pretentious Due to the collapse of the Japanese cryptocurrency exchange, the draft restoration plan originally submitted to the Tokyo District Court in February was approved. In addition, he reported that claimants representing approximately 83% of the total voting rights voted for the plan.

Decide After voting on October 8 From thousands of Mt. Gox users, their losses are estimated to be worth billions of dollars. Kobayashi said that once the restoration plan becomes “final and binding,” the distribution of assets may not begin for at least one month. He added that creditors should soon register their bank account details on the website to get paid.

Mt. Gox was first launched by programmer Jed McCaleb in 2010 and was later acquired by Karpelès. It was one of the largest exchanges in the world in the early days of cryptocurrency. A hack in 2011 and the subsequent collapse of the exchange in early 2014 affected nearly 24,000 creditors-mainly those holding cryptocurrencies.

These events resulted in 850,000 Bitcoins (Bitcoin), it was about 460 million U.S. dollars at the time, and about 56 billion U.S. dollars at the time of publication.However, Kobayashi Reportedly only 150,000 BTC Return users.

The Japanese court initially approved the exchange’s petition to begin civil rehabilitation for Mt. Gox creditors in June 2018. This period was extended many times for various reasons, but the Tokyo District Court finally accepted the current draft rehabilitation plan in December 2020 and issued an order in February to allow creditors to vote on it.

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Mt. Gox’s decision was made when the remnants of a super volcano on Japan’s main island Kyushu erupted for the first time in more than five years.Although El Salvador’s President Nayib Bukele (Nayib Bukele) recommends The country’s volcanoes mine Bitcoin, Japan does not seem to have such a system.