Defunct cryptocurrency exchange Mt. Gox announced that it will be further delaying its repayment deadline by yet another year to October 2026. This seemingly abrupt update from Mt. Gox has come just four days prior to its deadline that was initially set for October 31, 2025. In a somewhat unexpected announcement on October 27, the Mt.Gox rehabilitation trustee stated that it has now largely completed the base repayment, relatively early lump-sum repayment as well as intermediate repayment for their creditors that carried out repayment eligibility procedures without reporting any problems.
But a significant number of Mt. Gox creditors have not yet received their repayments since they reportedly failed to carry out the required procedures or perhaps because certain challenges emerged while the process was ongoing, the announcement from the defunct exchange noted.
According to the recent update issued this week, it is now desirable or preferrable to make the Repayments to such rehabilitation creditors “to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline for the Repayments from October 31, 2025 to October 31, 2026.”
This new update now marks the third such postponement of the defunct virtual currency exchange’s repayment deadline. Initially, the deadline had actually been as far back as October 31, 2023.
As widely reported, Mt. Gox had been serving as a Tokyo-headquartered crypto exchange that was established back in 2010. Gradually, it turned into one of the largest platforms enabling BTC trading when the leading crypto was trading for fractions of a dollar at times. However, Mt. Gox experienced a massive security breach back in 2014 when interest in the market had surged. The hack resulted in the loss of 850,000 bitcoins, leading to the exchange holding back on withdrawals and proceeding with bankruptcy filings.
The trustee of the collapsed crypto-assets platform revealed in 2023 that it intends to pay back a certain portion of the initial losses to creditors with some of the recovered assets. This is now said to consist of 142,000 bitcoin and 143,000 Bitcoin Cash or BCH, along with fiat money valued at roughly 69 billion Japanese yen or over $500 million at the time of writing.
During the past year, several of the exchange’s creditors have reported that they were sent payments through Kraken and Bitstamp. An update from earlier this year noted that the Mt. Gox trustee had actually repaid 19,500 creditors in BTC and BCH tokens. At present, the collapsed exchange maintains about 34,689 BTC.