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Mt. Gox Bitcoin Repayment Plan Gains Final Approval From Trustee

  • More than $8.5 billion in Bitcoin could be distributed in time
  • Thousands of customers have tried to get funds back for years
Former Mt. Gox CEO Mark Karpeles
Former Mt. Gox CEO Mark KarpelesSource: Bloomberg

Creditors of the defunct crypto exchange Mt. Gox are getting closer to receiving reimbursements under a plan that became final and binding, bringing one of the longest-running sagas in the cryptocurrency world nearer to an end.

The timing and specific amount of the repayments haven’t been announced, according to a letter Tuesday from a Japanese trustee, who is in charge of returning the funds to creditors. Investors will have to provide their bank accounts and other information to receive repayments.