Mt. Gox Creditors Can File Online Rehabilitation Claims

Published on 27 August 2018 by Cryptovest Staff

The online filing option is available for those who still have their Mt. Gox login credentials.

The creditors of the infamous bitcoin exchange Mt. Gox can now file their rehabilitation claims online.

As per a public announcement by Mt. Gox civil rehabilitation trustee Nobuaki Kobayashi, the online applications system is now up and running and creditors can submit their claims, whether they filed any proof during the earlier bankruptcy procedure or not. Claimants may submit proof now as well. Those who filed during the bankruptcy proceedings can submit the same documents in the civil rehabilitation procedure.

However, the online filing option is available only for those who still have their login credentials for Mt. Gox. Those who have lost them or do not have them anymore for whatever reason, must file their documents offline, i.e., to send them by snail mail to an address in Tokyo provided in the announcement. Those who cannot set up two-step authentication must also use the offline method.

According to Kobayashi, the trustees plan to expand the online filing platform to allow corporate Mt. Gox creditors to file their compensation claims, as well as functions for procedures to claim assignments and an option to change the e-mail address.

Creditors have until October 22, 2018, to file their documents. Those who fail to do so until then will lose their right to claim. Currently, the deadline for the rehabilitation trustee to submit to the court a statement regarding approvals or rejections of claims is January 24, 2019, but it is not definitive and may be changed.

In June, the Tokyo District Court put on hold the bankruptcy process that has been dragging on since 2014 and approved the start of civil rehabilitation proceedings. This set the beginning of the procedure by which the numerous Mt. Gox users could recover their lost funds in bitcoins, rather than in the equivalent in Japanese yen, at the bitcoin prices at the time of the Mt. Gox hack in which 850,000 bitcoins disappeared. At then-prices, the stolen coins were worth around $473 million.

Until the beginning of 2018, this was the largest heist in the cryptocurrency history, but now the dubious honor is held by the Japanese crypto exchange Coincheck, which lost NEM coins worth $530 million this January.