The bankrupt cryptocurrency exchange Mt.Gox has provided an update on the procedure for returning funds to creditors. It is claimed that trustee Nobuaki Kobayashi is preparing to make payments in accordance with the approved rehabilitation plan.
Kobayashi has published a report regarding the procedures for returning the funds and performing his duties as trustee.
The document describes various options that creditors can pursue in recovering their funds. These include getting an early lump sum payout, as well as claiming a portion of their funds back in Bitcoin or Bitcoin Cash.
In addition, Kobayashi has set a restrictive period that will run from the end of August until “all or part of the payments made as initial payments have been completed.”
Given that Mt.Gox will start paying its creditors as early as next month, this could add to the selling pressure in the bitcoin market. As such, it’s a good bet that until the initial repayment round is completed, the trustee will not accept any new repayment requests.
Yesterday, CryptoQuant CEO Ki Young Joo unveiled a tool that allows you to set alerts when bitcoins start leaving the public blockchain wallet Mt.Gox.