Mtgox trustee and return of funds

[boumalo]

Hey, could someone direct me to the most relevant mtgox thread to have fresh news if any ?

Wikipedia stops in march 2019 : https://en.wikipedia.org/wiki/Mt._Gox#Bankruptcy;_stolen_bitcoin_(2014%E2%80%93ongoing)

On google news found 2 recent articles :

https://financefeeds.com/mtgox-trustee-secures-extension-submission-deadline-rehabilitation-plan/

https://www.coindesk.com/2-billion-lost-in-mt-gox-bitcoin-hack-can-be-recovered-lawyer-claims

In march 2020, the trustee got an extension up to July 1st 2020 but what happened since ?
Will the defendants get the 2014 USD value of their bitcoins held in mtgox or the current value ?

[1715360541]

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[Jawhead999]

In march 2020, the trustee got an extension up to July 1st 2020 but what happened since ?

I just found another fresh news about Mtgox, it said they change the deadline to October 15,2020 [1]

Will the defendants get the 2014 USD value of their bitcoins held in mtgox or the current value ?

They will get the current value

In the document Pag shared with the creditors, ZP describes how the loss will be calculated.

“If you held a balance on Mt Gox of say 100 BTC on the day it closed, to calculate your Russian police claim you must convert this to hard currency based on the current rate, for instance $10,000/BTC means your claim will be $1,000,000, in Roubles,” the document says.

[1] https://financefeeds.com/mtgox-trustee-obtains-extension-rehabilitation-plan-submission-deadline/

[boumalo]

In march 2020, the trustee got an extension up to July 1st 2020 but what happened since ?

I just found another fresh news about Mtgox, it said they change the deadline to October 15,2020 [1]

Thanks, hopefully for mtgox clients their claims are not blocked in USD at the 2014 price 

"The amount of BTC held by MtGox as of September 30, 2019 is 141,686.35446516BTC." 1,675B$ at the current price (lower if they liquidate the BTC and crash the price).

Am surprised there is not a mtgox thread up to date, the mtgox clients probably have means to talk with each other and the trustee send them updates.

[gentlemand]

Forget the 'crypto press' when it comes to this.

If you're involved in this or interested in it then and you're not already signed up here - https://www.reddit.com/r/mtgoxinsolvency/ - then you should be.

This is the most relevant thread on here - https://bitcointalk.org/index.php?topic=179586.6920 but all the action will be taking place above.

[hermawan9416]

MTGox will never be able to rehabilitate itself. People will never believe them again.

[dothebeats]

MTGox will never be able to rehabilitate itself. People will never believe them again.

It's not really the goal why people are pressing charges and taking necessary legal actions against them. They just want their money back and make it a done deal and not get stressed about the drama of the past. I'm pretty sure no one would ever trust Gox or any of its upper-level associates and employees ever again due to the fault of its mastermind. Once the claims are done, people would just leave shit behind and expend their energy into something else, that's for sure.

[CryptoSites]

MTGox will never be able to rehabilitate itself. People will never believe them again.

I don’t know, they are trying to bring back Arthur Andersen...

[boumalo]

"The amount of BTC held by MtGox as of September 30, 2019 is 141,686.35446516BTC."

4,9B$ 

About the same amount as Silk Road wallet when it was seized. https://www.celebritynetworth.com/articles/entertainment-articles/ross-ulbricht-silk-road-bitcoin/

[OgNasty]

I received a packet from the trustee a few weeks ago, but didn't manage to sit down and read through everything until tonight.  As there was no good option available, I did vote 'Yes' to the rehabilitation plan in the hopes of having some BTC returned to me after all of these years.  It looks like it will be around 15-20% of the original amount in BTC returned in a best case scenario.  Considering the amount of price appreciation since the gox closure, I think most people will likely be relieved to have this come to a close.  Hopefully next year.

[ololajulo]

"The amount of BTC held by MtGox as of September 30, 2019 is 141,686.35446516BTC."

4,9B$ 

About the same amount as Silk Road wallet when it was seized. https://www.celebritynetworth.com/articles/entertainment-articles/ross-ulbricht-silk-road-bitcoin/

So they have held this coins for this long to start threatening and FUDing the market for a dump. I actually dont believe the news of the release of coin cause more coins had been sold in this market without such news. The idea is usually to pick an average price of sale and sell gradually on exchanges, probably hiding from anyone. I suspect a plan for a bottom buy from the FUD

[shlomogold]

is there a group of claimants for 1Feex stolen bitcoins?
any contact info?

[boumalo]

is there a group of claimants for 1Feex stolen bitcoins?
any contact info?

Create one

https://www.reddit.com/r/bsv/comments/12xgjh8/a_few_more_documents_about_the_1feex_paper_wallet/

[YUriy1991]

MTGox will never be able to rehabilitate itself. People will never believe them again.

That's right, if I'm not mistaken Mt Gox, Started Compensating User Funds Starting This Year and Creditors started receiving notifications via email from Mt. Gox's only problem is that the tables are personalized as a result of which most investors and traders are increasingly hesitant to use exchanges with a bad reputation, and choose platforms with a more positive track record.

[bluebit25]

MTGox will never be able to rehabilitate itself. People will never believe them again.

That's right, if I'm not mistaken Mt Gox, Started Compensating User Funds Starting This Year and Creditors started receiving notifications via email from Mt. Gox's only problem is that the tables are personalized as a result of which most investors and traders are increasingly hesitant to use exchanges with a bad reputation, and choose platforms with a more positive track record.

Only a few creditors will be paid, those who accept and are paid in advance, but only about ~20% of the amount, the rest will still be held.

According to the schedule, MT Gox will pay in installments, and they commit not to sell large quantities that affect the price, so it is unlikely that they will sell several billion USD of Bitcoin at the same time and have many followers MT Gox wallet tracking.

The compensation price for BTC will be calculated according to the level when it was confiscated by the Japanese Government, at ~$5342/BTC, not the current price.

[boumalo]

MTGox will never be able to rehabilitate itself. People will never believe them again.

That's right, if I'm not mistaken Mt Gox, Started Compensating User Funds Starting This Year and Creditors started receiving notifications via email from Mt. Gox's only problem is that the tables are personalized as a result of which most investors and traders are increasingly hesitant to use exchanges with a bad reputation, and choose platforms with a more positive track record.

Only a few creditors will be paid, those who accept and are paid in advance, but only about ~20% of the amount, the rest will still be held.

According to the schedule, MT Gox will pay in installments, and they commit not to sell large quantities that affect the price, so it is unlikely that they will sell several billion USD of Bitcoin at the same time and have many followers MT Gox wallet tracking.

The compensation price for BTC will be calculated according to the level when it was confiscated by the Japanese Government, at ~$5342/BTC, not the current price.

137K BTC 

$ 5,854,133,739 at current market value

Initially set for the end of this October.

Deadline extension to Oct. 31, 2024.