A notice dated August 23rd by a trustee of Mt. Gox named Nobuaki Kobayashi has begun an online claim filing system so that creditors may have a chance of claiming their money back. The online forms are to be filled and submitted either online or via mail to the office of the trustee in Tokyo. Both the instructions for online and offline filings are published.
The announcement for online application is as follows;
“Users around the world can, without using time or money, easily participate in the civil rehabilitation proceedings through filing proofs of exchange-related rehabilitation claim in accordance with the Civil Rehabilitation Act of Japan and other laws and ordinances. Filing proofs of rehabilitation claim with the online method will benefit all interested parties.”
Further details were listed in a document titled, “Q&As for Filing Proofs of Rehabilitation Claim.”
Mt. Gox had a terrible ending in 2014 when it became completely insolvent, leading to more than 850,000 bitcoins going missing in an apparent theft. The total amount valued to more than $450 million at that time. Its former CEO Mark Karpeles later found about 200,000 BTC.
Investors can still check their balances in their Mt. Gox accounts by signing into the website with the respective username and passwords.
The interesting part involves a court hearing, in June 2018, from a petition filed in Tokyo’s District Court in November 2017, has led to it being a civil rehabilitation. Thus creditors will be able to gain compensation in Bitcoin, and not in Fiat which means a higher sum of returns given the value of Bitcoin back when Mt. Gox faced issues in 2014. The value of Bitcoin at the time of Mt Gox closing which was February 24, 2014, was at $547.09.
At the time of writing Bitcoin is at $7104.89, according to CoinMarketCap.
Twitter user ‘BuzzShillington’ tweeted to the public about the strength of Bitcoin with no sudden nudge given the bad news coming its way for the last one week. From the dumping of Mt. Gox to 9 ETF rejections, Bitcoin is still standing up strong.
Mt. Gox dump announcement, 9 ETF rejections, China Fud, Korean Fud and $BTC holds position. This is truly a testament to the strength of this market and the resolve of its investors. We have persevered through manipulation and FUD like no other. Cryptocurrency aint going anywhere
— BuzzShillington (CryptoInMinutes) (@MasterSprooker) August 24, 2018