What is your take on Mt. Gox refund ?

[sompitonov]

As anyone gotten paid already or it's another rumour? It's not the first time that I will hear that payment to all those affected years ago has begin, it's all a lie or rumour until it's unproven not to be, I do not think it's ever going to happen again.

If this do happen, it's possible that there will be a massive sell off and it will affect the price of Bitcoin and other crypto assets too, it's not something I will worry myself about, the thing is I hope those who are affected have learned their lesson.

Till today too many people are feeling relaxed about using centralized crypto exchanges to store their coins, those who got hacked are the one that got the bad ending, says people that are using CEX for keeping their assets.

It was MT.GOX years ago, it was FTX not too long and yesterday it was Coinex, maybe it will be Coinbase tomorrow, so instead of keeping your coins on exchanges  ( they never belongs there) it's better to keep in your private crypto wallets.

9 years have already passed since the hack, does anyone really think that after such a long time Bitcoins will be returned? Only when I see that many people write that they received payments of their bitcoins from the MTGOX hack, then I will believe that this process has really begun. This is all because I am almost sure that this won't happen. And even if this happens, some are no longer with us, some have lost interest in crypto, some have forgotten about it and other reasons. When they say that there will be pressure on the price, there will always be those who will buy these bitcoins at a great discount.

[OgNasty]

I was surprised to see this article as I've had no communication that any distribution is incoming.  They claim in the article the refunds will be sent out by the end of next month.  While this would be great news, it is surprising to see someone making this claim.  I would assume that if the distribution was this close that I would have received some sort of notification.  In any event, this along with the FTX liquidations and forced selling at Binance should create the final buying opportunity before the next leg up.  Right on schedule.  A little too convenient if you ask me.

[armanda90]

Since how many time with refund issues from Mt Gox exchange have been published more than several years later I don't believe yet with new issue with repayment or refund for Mt Gox user. For OP if have assets in that exchange better not huge expectation because this exchange have promised several time about refund BTC assets to their user, actually is not possibility during loss Bitcoin fund still in lower price and today Bitcoin have been up drastically and looks difficult how to recovery with their user fund.

Don't fully trusted with exchange have been scam will back one day later and refund all user fund, its their trick how to make user keep optimistic about refund or repayment issues publishing every year although how many time giving fake promise and user of Mt Gox never get back their fund until 7 years this exchange have been hacked.

[darkangel11]

People who are spreading rumors that a dump is coming are probably the same idiots who were saying that when every US bitcoin auction was being announced. Every time there was a bunch of FUD by people who opened short positions and wanted to start a panic and every time the rumors ended with nothing.

Think about it for a moment. You're given a million dollars in bitcoin today for whatever reason. What do you do?
a. dump it all on exchange
b. pay your bills, buy all the necessities and hold the rest
c. keep holding because the halving is around the corner

[DeathAngel]

It’s a bit of a dark cloud over the space but I’m goad it will finally get resolved so the FUD on it is over. I have mixed thoughts about what could happen. I mean the obvious thing is big FUD & a mass dumping of coins that have been inaccessible for so long. On the other hand, these guys have waited for so long, they’ve seen bitcoin go from basically nothing to what it is now. Massive after not being able to sell, they will now HODL so the dump won’t be that bad.

[serjent05]

As anyone gotten paid already or it's another rumour? It's not the first time that I will hear that payment to all those affected years ago has begin, it's all a lie or rumour until it's unproven not to be, I do not think it's ever going to happen again.

If this do happen, it's possible that there will be a massive sell off and it will affect the price of Bitcoin and other crypto assets too, it's not something I will worry myself about, the thing is I hope those who are affected have learned their lesson.

Till today too many people are feeling relaxed about using centralized crypto exchanges to store their coins, those who got hacked are the one that got the bad ending, says people that are using CEX for keeping their assets.

It was MT.GOX years ago, it was FTX not too long and yesterday it was Coinex, maybe it will be Coinbase tomorrow, so instead of keeping your coins on exchanges  ( they never belongs there) it's better to keep in your private crypto wallets.

9 years have already passed since the hack, does anyone really think that after such a long time Bitcoins will be returned? Only when I see that many people write that they received payments of their bitcoins from the MTGOX hack, then I will believe that this process has really begun. This is all because I am almost sure that this won't happen. And even if this happens, some are no longer with us, some have lost interest in crypto, some have forgotten about it and other reasons. When they say that there will be pressure on the price, there will always be those who will buy these bitcoins at a great discount.

Well, they had the announcement, do you think authorities will make a joke on this matter? It has been on the news that Mt. Gox victims will be having a refund.  Although it is possible that not all will be accomodated but I believe that the distribution will commence.

When these Bitcoins get into the market, we know that the market will react negatively due to the sudden increase in supply if the Bitcoin refunded is put in the market to be sold by their owner.   It is the best time then to buy more Bitcoin because the price would be at a discounted price by then.

[panganib999]

Nobody knows for sure. But I think timing the refund at this opportune time when the people's confidence with bitcoin is just recovering is a good one, as it puts them at the crossroads of cutting their losses and cashing out of their investments, or holding on to it until they actually get something out of their money. What happened with Mt. Gox isn't something that they warranted at all, so I don't think they got bad rap from this despite the fact that people lost confidence in bitcoin, so despite the notion that this may refund may push people who lost their money back then to cash out and take their losses, given the fact that they'd probably return loss money based on 2014 charts with consideration to inflation and all that, this may just push people to just hold it for the meantime.

[Iranus]

As anyone gotten paid already or it's another rumour? It's not the first time that I will hear that payment to all those affected years ago has begin, it's all a lie or rumour until it's unproven not to be, I do not think it's ever going to happen again.

If this do happen, it's possible that there will be a massive sell off and it will affect the price of Bitcoin and other crypto assets too, it's not something I will worry myself about, the thing is I hope those who are affected have learned their lesson.

Till today too many people are feeling relaxed about using centralized crypto exchanges to store their coins, those who got hacked are the one that got the bad ending, says people that are using CEX for keeping their assets.

It was MT.GOX years ago, it was FTX not too long and yesterday it was Coinex, maybe it will be Coinbase tomorrow, so instead of keeping your coins on exchanges  ( they never belongs there) it's better to keep in your private crypto wallets.

9 years have already passed since the hack, does anyone really think that after such a long time Bitcoins will be returned? Only when I see that many people write that they received payments of their bitcoins from the MTGOX hack, then I will believe that this process has really begun. This is all because I am almost sure that this won't happen. And even if this happens, some are no longer with us, some have lost interest in crypto, some have forgotten about it and other reasons. When they say that there will be pressure on the price, there will always be those who will buy these bitcoins at a great discount.

Well, they had the announcement, do you think authorities will make a joke on this matter? It has been on the news that Mt. Gox victims will be having a refund.  Although it is possible that not all will be accomodated but I believe that the distribution will commence.

When these Bitcoins get into the market, we know that the market will react negatively due to the sudden increase in supply if the Bitcoin refunded is put in the market to be sold by their owner.   It is the best time then to buy more Bitcoin because the price would be at a discounted price by then.

If the government really cares about this issue, why has it been 9 years and no one has received their bitcoins back beyond Mt.gox's promise? It is true that they did not confirm that they will not compensate the victims, but so far has anyone received even the smallest amount of compensation? 

Mt.Gox has launched multiple compensation options for investors, be it USD or some altcoins, not just BTC. Therefore, we cannot know how many bitcoins will be distributed to the market if MT.gox actually compensates investors. Furthermore, the BTC refunds will last for several years, they will not pay out all at once, so there is no guarantee that it will put pressure on the market.

[Blitzboy]

As anyone gotten paid already or it's another rumour? It's not the first time that I will hear that payment to all those affected years ago has begin, it's all a lie or rumour until it's unproven not to be, I do not think it's ever going to happen again.

If this do happen, it's possible that there will be a massive sell off and it will affect the price of Bitcoin and other crypto assets too, it's not something I will worry myself about, the thing is I hope those who are affected have learned their lesson.

Till today too many people are feeling relaxed about using centralized crypto exchanges to store their coins, those who got hacked are the one that got the bad ending, says people that are using CEX for keeping their assets.

It was MT.GOX years ago, it was FTX not too long and yesterday it was Coinex, maybe it will be Coinbase tomorrow, so instead of keeping your coins on exchanges  ( they never belongs there) it's better to keep in your private crypto wallets.

9 years have already passed since the hack, does anyone really think that after such a long time Bitcoins will be returned? Only when I see that many people write that they received payments of their bitcoins from the MTGOX hack, then I will believe that this process has really begun. This is all because I am almost sure that this won't happen. And even if this happens, some are no longer with us, some have lost interest in crypto, some have forgotten about it and other reasons. When they say that there will be pressure on the price, there will always be those who will buy these bitcoins at a great discount.

Well, they had the announcement, do you think authorities will make a joke on this matter? It has been on the news that Mt. Gox victims will be having a refund.  Although it is possible that not all will be accomodated but I believe that the distribution will commence.

When these Bitcoins get into the market, we know that the market will react negatively due to the sudden increase in supply if the Bitcoin refunded is put in the market to be sold by their owner.   It is the best time then to buy more Bitcoin because the price would be at a discounted price by then.

If the government really cares about this issue, why has it been 9 years and no one has received their bitcoins back beyond Mt.gox's promise? It is true that they did not confirm that they will not compensate the victims, but so far has anyone received even the smallest amount of compensation? 

Mt.Gox has launched multiple compensation options for investors, be it USD or some altcoins, not just BTC. Therefore, we cannot know how many bitcoins will be distributed to the market if MT.gox actually compensates investors. Furthermore, the BTC refunds will last for several years, they will not pay out all at once, so there is no guarantee that it will put pressure on the market.

Why does the resolution seem to be a mirage in a huge financial wasteland? Its been nine long years, and promises seem to be getting less clear. When we look at what the government is doing, we might think that, with all of their money and power, they have an easy win in this game. Still, we're still getting fuzzy promises.

Mt.Gox has, in fact, given a lot of choices. But truth is still hard to find among all these options. We've been given a hand with several cards, but we dont know which one is the best. Even though I understand that the BTC returns might take a while, Im not sure that it would change the way the market works in a big way because it will happen slowly. Our best bet might be to be patient, but many people are getting tired of this plan.

[Tony116]

As anyone gotten paid already or it's another rumour? It's not the first time that I will hear that payment to all those affected years ago has begin, it's all a lie or rumour until it's unproven not to be, I do not think it's ever going to happen again.

If this do happen, it's possible that there will be a massive sell off and it will affect the price of Bitcoin and other crypto assets too, it's not something I will worry myself about, the thing is I hope those who are affected have learned their lesson.

Till today too many people are feeling relaxed about using centralized crypto exchanges to store their coins, those who got hacked are the one that got the bad ending, says people that are using CEX for keeping their assets.

It was MT.GOX years ago, it was FTX not too long and yesterday it was Coinex, maybe it will be Coinbase tomorrow, so instead of keeping your coins on exchanges  ( they never belongs there) it's better to keep in your private crypto wallets.

9 years have already passed since the hack, does anyone really think that after such a long time Bitcoins will be returned? Only when I see that many people write that they received payments of their bitcoins from the MTGOX hack, then I will believe that this process has really begun. This is all because I am almost sure that this won't happen. And even if this happens, some are no longer with us, some have lost interest in crypto, some have forgotten about it and other reasons. When they say that there will be pressure on the price, there will always be those who will buy these bitcoins at a great discount.

Well, they had the announcement, do you think authorities will make a joke on this matter? It has been on the news that Mt. Gox victims will be having a refund.  Although it is possible that not all will be accomodated but I believe that the distribution will commence.

When these Bitcoins get into the market, we know that the market will react negatively due to the sudden increase in supply if the Bitcoin refunded is put in the market to be sold by their owner.   It is the best time then to buy more Bitcoin because the price would be at a discounted price by then.

If the government really cares about this issue, why has it been 9 years and no one has received their bitcoins back beyond Mt.gox's promise? It is true that they did not confirm that they will not compensate the victims, but so far has anyone received even the smallest amount of compensation? 

Mt.Gox has launched multiple compensation options for investors, be it USD or some altcoins, not just BTC. Therefore, we cannot know how many bitcoins will be distributed to the market if MT.gox actually compensates investors. Furthermore, the BTC refunds will last for several years, they will not pay out all at once, so there is no guarantee that it will put pressure on the market.

Why does the resolution seem to be a mirage in a huge financial wasteland? Its been nine long years, and promises seem to be getting less clear. When we look at what the government is doing, we might think that, with all of their money and power, they have an easy win in this game. Still, we're still getting fuzzy promises.

Mt.Gox has, in fact, given a lot of choices. But truth is still hard to find among all these options. We've been given a hand with several cards, but we dont know which one is the best. Even though I understand that the BTC returns might take a while, Im not sure that it would change the way the market works in a big way because it will happen slowly. Our best bet might be to be patient, but many people are getting tired of this plan.

I don't want to disappoint the victims of the collapse of Mt. Gox. But honestly, I also don't believe they will refund those bitcoins this October because we all know they've been talking about this for almost a decade. And up to now, they continue to give false reasons and promises, making the victim increasingly impatient and leave. I doubt that is their plan, they did not say they would not compensate and they are trying to buy time to make the victims give up on the idea of compensation and they will appropriate those BTC legally.

I will never believe that MT.Gox will return the bitcoins or that FTX will sell their assets and that will affect the market. It's all just a trick of someone trying to manipulate the market and trick us into panicking into selling off our assets.

[stompix]

I was surprised to see this article as I've had no communication that any distribution is incoming.  They claim in the article the refunds will be sent out by the end of next month.  While this would be great news, it is surprising to see someone making this claim.  I would assume that if the distribution was this close that I would have received some sort of notification. 

It's not news, it's the date that was decided in the last meeting by that master of postponements Kobayashi.
https://www.mtgox.com/img/pdf/20230309_announcement_en.pdf

Having obtained the permission of the court, the Rehabilitation Trustee has also
changed the Base Repayment Deadline, Early Lump-Sum Repayment Deadline and
Intermediate Repayment Deadline from September 30, 2023 (Japan time) to October 31,
2023 (Japan time) following the change of the deadline for the Selection and Registration.

The article just made it sounds like it was decided now but everyone knows about it from March, if I recall correctly in May they had the final amendments on that plan so they can't really change anything anymore, just again postpone it.

------

As anyone gotten paid already or it's another rumour? It's not the first time that I will hear that payment to all those affected years ago has begin, it's all a lie or rumour until it's unproven not to be, I do not think it's ever going to happen again.

A final court decision on a rehabilitation plan is a rumor or a lie to you?

9 years have already passed since the hack, does anyone really think that after such a long time Bitcoins will be returned?
This is all because I am almost sure that this won't happen.

What makes you think they will not?

Mt.Gox has launched multiple compensation options for investors, be it USD or some altcoins, not just BTC. Therefore, we cannot know how many bitcoins will be distributed to the market if MT.gox actually compensates investors.

Yes we all know the numbers, you just have to use Google to find all the documents stating the amount held by the trustee right now.

I will never believe that MT.Gox will return the bitcoin

The coins are no longer held by MtGox and there is no MtGox anymore.

Guys seriously, rather than making one foot long pyramides quotes why don't you make a single search or if that's impossible for you and you still need to voice your opinion without knowing one thing about this issue why not tone it down a little?

[gunhell16]

Just saw an article on Cointelegraph that Mt. GOX will be refunding victims of the hack that happened to them years ago,  next month. While this is good news for the victims and will restore some level of confidence in the entire Bitcoin community,  there are concerns regarding the impact of such move on the price of Bitcoin.

The exchange lost 850,000 BTC to the hack in 2014. The concerns is that this proposed refund might lead to a huge dump in the price of Bitcoin. If Mt. Gox actually refund their victims, how do you think this might impact on the price and future of Bitcoin.

If about 850,000 BTC were lost on the exchange of Mt. Gox, does that mean that Mt. Gox will also return the Bitcoins that their customers who entered assets on their platform did not get? Because I didn't see in the article whether they will return it in bitcoin or in fiat?

Because if they return it to Bitcoin, I can say that it was worth the wait for those who were victims of it in 2014 because, obviously, by that time the value of Bitcoin was still very low compared to today. Apparently, it will appear that they have grown a lot more.

It also seems that they only hold long-term positions in Bitcoin if I just look at that news.

[sompitonov]

As anyone gotten paid already or it's another rumour? It's not the first time that I will hear that payment to all those affected years ago has begin, it's all a lie or rumour until it's unproven not to be, I do not think it's ever going to happen again.

If this do happen, it's possible that there will be a massive sell off and it will affect the price of Bitcoin and other crypto assets too, it's not something I will worry myself about, the thing is I hope those who are affected have learned their lesson.

Till today too many people are feeling relaxed about using centralized crypto exchanges to store their coins, those who got hacked are the one that got the bad ending, says people that are using CEX for keeping their assets.

It was MT.GOX years ago, it was FTX not too long and yesterday it was Coinex, maybe it will be Coinbase tomorrow, so instead of keeping your coins on exchanges  ( they never belongs there) it's better to keep in your private crypto wallets.

9 years have already passed since the hack, does anyone really think that after such a long time Bitcoins will be returned? Only when I see that many people write that they received payments of their bitcoins from the MTGOX hack, then I will believe that this process has really begun. This is all because I am almost sure that this won't happen. And even if this happens, some are no longer with us, some have lost interest in crypto, some have forgotten about it and other reasons. When they say that there will be pressure on the price, there will always be those who will buy these bitcoins at a great discount.

Well, they had the announcement, do you think authorities will make a joke on this matter? It has been on the news that Mt. Gox victims will be having a refund.  Although it is possible that not all will be accomodated but I believe that the distribution will commence.

When these Bitcoins get into the market, we know that the market will react negatively due to the sudden increase in supply if the Bitcoin refunded is put in the market to be sold by their owner.   It is the best time then to buy more Bitcoin because the price would be at a discounted price by then.

There have already been many refund requests over the years. Will the next one be true? I will only believe the actions when the affected users see the money in their wallet, not these endless fake news. The authors of these articles will also continue to earn money by publishing articles on this topic. There were already a lot of them. I don’t even want to read them if they continue, sorry for the frankness.

9 years have already passed since the hack, does anyone really think that after such a long time Bitcoins will be returned?
This is all because I am almost sure that this won't happen.

What makes you think they will not?

Despite various arguments and articles from authoritative publications, I believe that this has taken too long. If they wanted to return it, they would have done it within 5 years maximum. This time is more than enough despite all the complexity. Perhaps my opinion is too naive, but it is what it is.

[stadus]

Even if the refund process is slow, it is still expected that people will panic, as they believe that over time, the price will drop. However, as long as the refund process is ongoing, the price is likely to slowly rise. I actually view this as positive news for the market. It may have a temporary negative impact on the price, but the fact that a major exchange from the past is in the process of issuing refunds should increase confidence among traders and potential investors.

So, if there is a price drop, always consider it an opportunity, as it is likely to be short-lived.

[avp2306]

Even if the refund process is slow, it is still expected that people will panic, as they believe that over time, the price will drop. However, as long as the refund process is ongoing, the price is likely to slowly rise. I actually view this as positive news for the market. It may have a temporary negative impact on the price, but the fact that a major exchange from the past is in the process of issuing refunds should increase confidence among traders and potential investors.

So, if there is a price drop, always consider it an opportunity, as it is likely to be short-lived.

People will get panic if there's frequent news will release about it and the intention is to scare people. Since we can't deny that many will get afraid for their holdings since the amount to be return to their clients is so huge so it can affect the way how people look at the market situation. That's why we also need to get ready on possible effect so that we can take proper action whether to buy or sell.

[posi]

Even if the refund process is slow, it is still expected that people will panic, as they believe that over time, the price will drop. However, as long as the refund process is ongoing, the price is likely to slowly rise. I actually view this as positive news for the market. It may have a temporary negative impact on the price, but the fact that a major exchange from the past is in the process of issuing refunds should increase confidence among traders and potential investors.

So, if there is a price drop, always consider it an opportunity, as it is likely to be short-lived.

People will get panic if there's frequent news will release about it and the intention is to scare people. Since we can't deny that many will get afraid for their holdings since the amount to be return to their clients is so huge so it can affect the way how people look at the market situation. That's why we also need to get ready on possible effect so that we can take proper action whether to buy or sell.

If you are a long-term investor, what do you need to prepare? I see no need to prepare anything other than always having money in reserve and if the market plummets, we can take advantage of it to buy more, but there's nothing else we can do. I just consider it just the movement of the market, nothing more and nothing less.

However, people also need to remember that the Mt.gox's drama has been going on for 9 years now and do people really believe that it will end? Or someone intentionally took advantage of this news to manipulate the market like so many other times?

[Baofeng]

And there was another push on the dates again, from October Oct. 31, 2023, to Oct. 31, 2024.



https://www.mtgox.com/img/pdf/20230921_announcement_en.pdf

So obviously, the repayment will have to wait for another year. For sure this doesn't sit right with those victims who have submitted the necessary papers to claim what is rightfully theirs. So the whole process is a little bit of chunky and regardless of the current price of BTC, they should have gotten it by now. Oh well, another delay another frustrations and it really seems we can't exorcised the demons of Mt. Gox.

[safar1980]

Reports emerge suggesting Mt. Gox creditors are receiving repayments
Creditors of the long-defunct Bitcoin exchange Mt. Gox have reportedly started to receive fiat repayments for their Bitcoin, which had been trapped on the exchange since February 2014, according to numerous reports across social media.

On Dec. 26, several posts from the Reddit page r/mtgoxinsolvency suggestethat Mt. Gox had been sending Japanese Yen-denominated repayments to users via PayPal — nearly ten years after the funds had become locked on the exchange on Feb. 24, 2014.

"I just got paid," claimed Reddit user Free-end254, attaching a screenshot of the email that contained the PayPal receipt of payment.