circumstances,” according to the document.
Mt. Gox was once the world’s largest Bitcoin exchange, but it filed for bankruptcy in 2014 after losing 850,000 Bitcoins, worth around $450 million at the time, in a hack. The exchange’s creditors have been waiting for years to receive compensation for their losses.
The selection and registration process is a crucial step in the rehabilitation process, as it determines how creditors will receive their compensation. They can choose to receive their share in Bitcoin or fiat currency, and they must provide their payment details to the trustee.
The delay in the deadline is expected to give more time to creditors who have not yet made their selection and registration. It’s also expected to help the trustee to process the information and distribute the compensation more efficiently.
The trustee has already distributed some of the recovered Bitcoins to creditors, but the process has been slow and complicated due to the large number of claims and the fluctuating value of Bitcoin.
The delay in the deadline is a setback for some creditors who were hoping to receive their compensation sooner, but it’s also a relief for those who needed more time to make their decision.
The Mt. Gox case has been a long and painful process for all parties involved, but the delay in the deadline is a sign that progress is being made towards a resolution. The trustee has promised to do his best to ensure that all creditors receive their fair share of the recovered assets.
