Crypto News Bulletin

Monday April 22, 2019 7:44 PM
9 hours 9 minutes ago

Mt. Gox Is Automatically Filing Unregistered Creditors for Reimbursement


If you’re a creditor in Mt. Gox’s civil rehabilitation case, the defunct exchange may have automatically filed and approved a reimbursement claim for you — provided that your Mt. Gox account was verified when it was still operating.According to a Reddit post from user DerEwige on April 22, 2019, Nobuaki Kobayashi, a Japanese attorney and trustee of the ongoing case, has alerted former Mt. Gox users who didn’t voluntarily apply for reimbursement that they will also receive compensation for their lost bitcoin as rehabilitation takes effect. The exchange is using KYC information that was originally submitted to verify accounts to register users who haven’t directly applied for rehabilitation.Handling more than half of all bitcoin transactions at the time of its closure, the Japanese exchange suspended trades and declared bankruptcy in 2014 following an alleged hack. Since then, legal battles have been ongoing in Tokyo courts.In June 2018, legal proceedings shifted from bankruptcy to civil rehabilitation following the court’s approval of a creditors’ petition that was filed in November 2017. The legal move provided more leeway for how creditors could be reimbursed. Two months after the shift, private individuals were allowed to begin filing claims for reimbursement and this same filing system was opened up to corporate clients that September.In Kobayashi’s latest email to those who had assets stored on Mt. Gox and provided KYC i...

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