Mt. Gox Creditors Report Receiving Compensation Payments via PayPal in Japanese Yen
Creditors of now-defunct crypto exchange Mt. Gox have reported receiving fiat repayments for their trapped Bitcoin on the social media platform Reddit.
According to recent posts on the Reddit page r/mtgoxinsolvency, Mt. Gox has begun sending Japanese Yen-denominated refunds to users through PayPal.
While these reports are yet to be confirmed, several Reddit users have claimed to have received payments.
The repayments come as the funds had been locked on the exchange since February 2014,
One Reddit user, Free-end254, shared a screenshot of an email containing a PayPal receipt, stating, “I just got paid.”
Another user expressed initial skepticism, believing the email to be a phishing scam, but later confirmed that the payment had indeed arrived in their PayPal account.
The first instance of these new Mt. Gox repayments was reported on December 21 when a pseudonymous Japanese user on X (formerly Twitter) announced that they had received their Mt. Gox claims via a bank transfer credited in Japanese Yen.
This development comes just a month after Nobuaki Kobayashi, the trustee overseeing the Mt. Gox Bitcoin exchange’s estate, began sending emails to rehabilitation creditors regarding the commencement of repayments on November 21.
In his email, Kobayashi informed creditors that the first repayments in cash would begin in 2023, with the expectation of continuing the process in 2024.
However, he did not provide specific timing details for individual rehabilitation creditors.
The repayment process marks a significant step forward for Mt. Gox creditors who have been waiting for nearly a decade to recover their funds.
The exchange’s collapse in 2014 resulted in the loss of approximately 850,000 Bitcoin, making it
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