Mt. Gox Delays Repayments by Another Year, Leaving Creditors Waiting for Relief

On Thursday, Mt. Gox announced that its planned repayments have been delayed by another year, with the new date set for October 31, 2024. The defunct crypto exchange had previously planned to begin repayments on October 31, 2023. The creditors of Mt. Gox have been waiting for relief for a decade since the exchange was hacked in 2014, resulting in the theft of 850,000 bitcoin. While the release of the stolen tokens could have an impact on bitcoin prices, UBS has stated that it would not destabilize the cryptocurrency.

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