The Mt. Gox trustee’s rehabilitation plan is expected to arrive in mid-December.
The trustee of the now defunct Japanese cryptoexchange Mt. Gox has obtained further approval to extend the deadline for submission of a rehabilitation plan.
Following a motion by Mt. Gox’s reimbursement trustee, Nobuaki Kobayashi, the Tokyo District Court issued another order to extend the deadline until December 15, 2020, according to an official announcement posted on the Mt. Gox website on October 15.
As with previous statements on extensions of the deadline, the new announcement specifies that the rehabilitation trustee continues to formulate the plan, but „there are issues that require further consideration“, so „an extension of the deadline has become necessary“.
As reported by Cointelegraph, Kobayashi received several extensions of similar deadlines in March 2020 and April 2019.
The Mt. Gox cryptoexchange is known to have been the victim of the largest cryptomoney hacking in history. As reported, the exchange lost a total of 1.35 million Bitcoins (BTC) in two hacks in 2011 and 2014.
Despite the hacking years ago, Mt. Gox’s clients have yet to receive compensation for their stolen funds. Kobayashi, a Japanese lawyer who was appointed to oversee the civil rehabilitation process, reportedly has 150,000 BTCs to reimburse users. However, the reimbursement process has been delayed several times since 2019.