Mt. Gox rehabilitation plan is now ‘final and binding’

Mt. Gox rehabilitation plan is now ‘final and binding’

Nobuaki Kobayashi implied in October the “final and binding” ruling was the last major hurdle in the compensation process, hinting users who filed claims could receive the funds fairly quickly.

The rehabilitation plan to compensate creditors from the now-defunct crypto exchange Mt. Gox is now finalized following confirmation from a Japanese court.

According to a Tuesday announcement from Mt. Gox trustee Nobuaki Kobayashi, the rehabilitation plan originally

First launched in 2010 by programmer Jed McCaleb and later purchased by Mark Karpelès, Mt. Gox was one of the largest exchanges in the world during the early days of crypto. A 2011 hack and the exchange’s subsequent collapse affected nearly 24,000 creditors — mainly those holding cryptocurrency.

These events resulted in the loss of 850,000 BTC, $460 million at the time and $51 billion at the time of publication. However, Kobayashi reportedly has roughly 150,000 BTC with which to repay creditors.

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