December 15 Mt. Nobuaki Kobayashi, Gox’s trustee, presented a draft recovery plan for rebuilding Mt. Gox users. According to the official announcement posted on Mt. The Gox website, Tokyo District Court and an expert will review the draft rehabilitation plan and decide if you want to continue with rehabilitation activities as part of the draft rehabilitation plan.

The move was taken shortly after Kobayashi received additional approval to extend the deadline for submitting a rehabilitation plan in October 2020. The Tokyo District Court reportedly extended the deadline to December 15, 2020. Kobayashi previously received a number of similar renewals in March. 2020 and April 2019

Launched in 2010, Mt. Gox suffered from the largest cryptocurrency hack in history. The exchange reportedly lost 1.35 million bitcoins (BTC) in two hacks in 2011 and 2014.

Mountain. Gox customers have not yet received compensation for the stolen money. Kobayashi, a Japanese lawyer assigned to oversee the civil payments process, has 150,000 bitcoins to pay users. However, refunds have been postponed several times.

Discontinued Japanese cryptocurrency exchange Mt. Gox is finally pushing a plan to rehabilitate users after major hacks in 2011 and 2014.

Several other cryptocurrency exchanges have also recently implemented payment plans. On December 9, the halted Cryptopia trustee began the process of claims for compensation to creditors following a hack in 2019.

Source: CoinTelegraph