Reports emerge suggesting Mt. Gox creditors are receiving repayments

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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 emerging reports on social media. 

Several posts from the Reddit page r/mtgoxinsolvency suggest that Mt. Gox has been sending Japanese Yen-denominated refunds to users via PayPal — nearly ten years after the funds had become locked on the exchange on Feb. 24, 2014. The reports are unconfirmed.

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

Reddit users began posting about receiving payments from Mt. Gox on Dec. 26. Source: Reddit

“I just got money!” wrote another Reddit user, adding they initially believed the email to be some kind of phishing scam, before claiming that an actual payment had landed in their PayPal account.

One of the first instances of the new Mt. Gox repayments surfaced on Dec. 21, when a pseudonymous Japanese X (formerly Twitter) user said they had received their Mt. Gox claims through bank transfer, which was credited to their account as Japanese Yen.

It comes only a month after Nobuaki Kobayashi, the trustee overseeing the Mt. Gox Bitcoin exchange’s estate began sending out emails to rehabilitation creditors regarding the commencement of repayments on Nov. 21.

The Kobayashi email said that the trustee planned to start the first repayments to creditors in cash in 2023, adding that he expects to continue the repayments in 2024. Kobayashi did not provide the specific timing of repayments to individual rehabilitation creditors. 

This is a developing story, and further information will be added as it becomes available.