TechFlow news — On July 5, according to The Block, the Mt Gox trustee announced today that repayments under the rehabilitation plan have commenced, with distributions being made to designated cryptocurrency exchanges. Creditor receipt times for Bitcoin or Bitcoin Cash may vary depending on the exchange. According to trustee documents, creditors using Kraken accounts may face up to a 90-day wait, while Bitstamp may take up to 60 days, BitGo up to 20 days, and SBI VC Trade and Bitbank are expected to complete repayments within 14 days.
The trustee stated that each designated cryptocurrency exchange must credit the corresponding amount of BTC/BCH to the creditor's account balance, or transfer it to an associated wallet, within a specified number of days after receiving the BTC/BCH from the trustee. Earlier today, Mt Gox transferred 47,228.7 BTC (approximately $2.71 billion) to a wallet and subsequently moved these assets in multiple transactions, including sending 1,545 BTC (worth $85 million) to Bitbank's hot wallet.
