Former clients of the now-defunct cryptocurrency exchange Mt. Gox have until Monday (October 22nd, 2018 – Japan time) to submit any claims they may have for digital assets currently being held by the appointed trustee.
As CryptoGlobe covered in September, Mt Gox has opened an online rehabilitation claim filing system for its corporate customers, so that they may file their proofs of claim to the civil rehabilitation proceedings.
Able To File For Cryptocurrency Holdings
Mt Gox’s claims process had officially started in August 2018, after the completion of lengthy bankruptcy protection procedures involving the exchange’s creditors. In June, petitioners who demanded they’re digital assets be returned immediately were able to move the matter over from a Japanese bankruptcy court to a civil rehabilitation case.
Notably, creditors are now able to file claims for their digital currency holdings, instead of only being able to receive fiat money based on the value of their assets in 2014 (at the time of the hack) – which would have been significantly less as cryptos were worth a lot less at that time.
Nobuaki Kobayashi, the Mt Gox trustee, will be given a three-month time period to file a statement of approval or rejection in response to the creditors’ claims – which are due this coming Monday.
Only Claims Proceeds For Bitcoin, No Forks Yet
At present, creditors may only file for Bitcoin (BTC) claims and will not be able to claim proceeds related to recent bitcoin forks (at least 96 to date) – as the funds had been frozen in early 2014, when there were no bitcoin forks.
Mt Gox’s civil rehabilitation statement reads as follows:
At this moment, we plan not to accept specific filing of cryptocurrencies other than bitcoins. Instead, we plan to deem bitcoin creditors who have filed a proof of claim for bitcoins have also filed a proof of claims for other cryptocurrencies proportionate to the number of bitcoins filed. We will post the further detailed information on this website.
Those looking to access the claiming system may visit Mt Gox’s official website. Both corporate and non-corporate clients have been able to file claims since August 23rd. If creditors fail to file their claims by the given deadline, then it could lead to disenfranchisement – which means that creditors will permanently lose the right to claim their lost funds.