Cryptocurrency exchange Kraken has received a transfer of two Bitcoins and one Bitcoin Cash from the Mt. Gox Rehabilitation Trustee, according to a Telegram group of lenders.
“MtGox administrators made two transfers. Bitcoin
+1.82%
& 
BCC
-1.45%
) to the Kraken exchange. The exact amount is TBC. However, Kraken has already Group member “Gio” wrote: “Email from MtGox custodian receiving bondholder funds.”
According to a screenshot posted to Telegram, Kraken wrote in the email, “We have successfully received the bondholder funds (BTC and BCH) from the Mt. Gox Trustee.” “We will endeavor to distribute the funds as soon as possible, but please expect it to take 7-14 days for the funds to reach your account. The amount you will receive has been determined by the Trustee and we will distribute them according to their instructions.” Kraken’s email was later confirmed by sources at The Block.
According to blockchain analytics platform Arkham, earlier today, a Mt. Gox wallet transferred approximately 48,641 BTC ($3.1 billion) to an undisclosed address.
“After the repayment on July 5, 2024, on July 16, 2024, the Rehabilitation Administrator repaid some Rehabilitation Creditors in Bitcoin and Bitcoin Cash through some designated cryptocurrency exchanges, etc. in accordance with the Rehabilitation Plan. As a result, the Rehabilitation Administrator has repaid over 13,000 Rehabilitation Creditors in Bitcoin and Bitcoin Cash so far,” Rehabilitation Administrator Nobuaki Kobayashi wrote in a separate notice sent on Tuesday.
“We are asking qualified rehabilitation creditors to wait a moment,” Kobayashi added.
Mt. Gox Payouts
Two Japanese exchanges, Bitbank and SBI VC Trade, appear to have received and distributed previously allocated funds, doing so in just a matter of hours, well beyond the promised two-week timeframe.
Other companies selected for creditor distribution, BitGo, Bitstamp, and Kraken, have yet to receive their payments and are given different payment deadlines of up to 20, 60, and 90 days respectively.
Mt. Gox was founded in 2010 and became the largest Bitcoin exchange in the world until 2014, when the platform suffered a security breach that resulted in the loss of 850,000 Bitcoins.
In September 2023, the trustee of the now-defunct exchange announced to creditors that 142,000 Bitcoins ($9 billion), 143,000 Bitcoin Cash ($55 million), and a total of 69 billion yen ($436 million) in fiat currency would be repaid by a new deadline of October 2024.
The block has reached out to Kraken and the Mt. Gox Rehabilitation Trustee for comment.
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