TechFlow news, Mt. Gox trustee in Japan, Nobuaki Kobayashi, announced on Monday that claimants can now begin voting on whether to accept the civil rehabilitation plan proposal, with online voting closing on October 8. Kobayashi submitted a draft claims plan to the Tokyo District Court on December 15, 2020, and an updated version was filed on February 15. For the proposal to pass, it must achieve at least a 50% voter approval threshold. The proposed payout will repay creditors in Japanese yen and in BTC/BCH; creditors who lost funds in fiat currency will be paid in yen. Any lost cryptocurrency amounts will be compensated in BTC and/or BCH and JPY. The total value of each claim will be calculated in yen, using a rate of approximately $7,000 per bitcoin.
Mt. Gox, founded in 2010, was once the world’s largest cryptocurrency exchange but collapsed after being hacked, resulting in the theft of 850,000 BTC.
