Mt. Gox creditors on Reddit claim they’ve begun receiving payments from the exchange, nearly 10 years after it first shut down.
Creditors of the long-defunct Bitcoin exchange Mt. Gox have reportedly started to receive fiat repayments for their Bitcoin, which had been trapped on the exchange since February 2014, according to emerging reports on social media.
Several posts from the Reddit page r/mtgoxinsolvency suggest that Mt. Gox has been sending Japanese Yen-denominated repayments to users via PayPal — nearly ten years after the funds had become locked on the exchange on Feb. 24, 2014. The reports are unconfirmed.
“I just got paid,” claimed Reddit user Free-end254, attaching a screenshot of the email that contained the PayPal receipt of payment.
“I just got money!” wrote another Reddit user, adding they initially believed the email to be some kind of phishing scam, before claiming that an actual payment had landed in their PayPal account.
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Another user noted that only part of their 0.125 Bitcoin claim had been repaid, receiving a total of 30,283 yen — worth $200 at the current exchange rate — and was still missing an approximate payment of $748.
Repayments to creditors are set to be paid out in several tranches, including the base repayment, the early lump-sum repayment, and the intermediate repayment.
One of the first instances of the new Mt. Gox repayments surfaced on Dec. 21, when a pseudonymous Japanese X (formerly Twitter) user said they had received their Mt. Gox claims through bank transfer, which was credited to their account as Japanese Yen.
It comes only a month after Nobuaki Kobayashi, the trustee overseeing the Mt. Gox Bitcoin exchange’s estate began sending out emails to rehabilitation creditors regarding the commencement of repayments on Nov. 21.
The Kobayashi email said that the trustee planned to start the first repayments to creditors in cash in 2023, adding that he expects to continue the repayments in 2024. Kobayashi did not provide the specific timing of repayments to individual rehabilitation creditors.
Two months earlier on Sept. 21, the Mt. Gox Trustee pushed back the repayment deadline from Oct. 31, 2023, to the same date in 2024 — however, noted that for rehabilitation creditors who had already provided the necessary information, some repayments could be made “as early as the end of this year.”
Cointelegraph contacted Mt. Gox for comment but did not receive an immediate response.