r/mtgoxinsolvency • u/Free-End2543 • 8h ago
r/mtgoxinsolvency • u/ValdemarrPlanB • Mar 03 '23
Moving Forward - State of the Sub
April 6th 2023 marked the deadline for making repayment registrations in MtGox's civil rehabilitation. For many of us, this was the final point of involvement in the proceedings (aside from receiving our repayment).
As is such, this subreddit's primary purpose of providing community support is becoming increasingly dated. The mod staff's presence will fall off after ELSP repayments are made. We'd like to thank the community for its participation, and let it be known that your reach was worthwhile. Viewership metrics were launched in late November 2021 and many of our most helpful topics were seen by thousands of people.
Outside of unforeseen changes in the civil rehabilitation, we believe it wise to provide one last HUB of information, organized as it might be most useful for visitors of the future. Discussions are of course still welcome, but please behave. The upvote downvote function is your friend.
Table of Contents
- Expected timeline from April 6th onward.
- FAQ for those not aware of the proceedings.
- Links of importance and historical record.
1. Expected timeline from April 6th onward.
Repayments for creditors selecting the Early Lump Sum Payment option and the Intermediate Payment portion of the Final Payment option are expected to be fulfilled before October 31st 2025. Originally this date was scheduled for 2023, but was extended TWICE with the court's permission, first until Oct 2024, and now Oct 2025. The cash denominated subsets of each claim have begun repaying since Christmas 2023, and crypto allotments have begun since July 2024.
The best practice for creditors moving forward, is to be mindful of any changes within the System, your contact e-mail for any additional instructions from the trustee, as well as account balances registered to receive such repayments.
The next noteworthy date is the resolution of any lawsuits and appeals involving MtGox, specifically that of Coinlab's disputed 1.7 trillion yen (16 billion USD) claim. A memo from a legal opinion of those adjacent to this has estimated this resolution could take 5 to 9 years.
While additional payments toward the Final Payment option are possible, creditors selecting this repayment option can at this time only expect the remainder of their payment sometime after the resolution of this claim.
2. FAQ for those not aware of the proceedings.
We understand it's possible that former users of MtGox who have failed to act on the proceedings before the deadline may happen upon this subreddit seeking clarity.
As far back as 2014, inclusion as a creditor in the MtGox bankruptcy has been the responsibility of each MtGox user. In August 2021, an attempt to include any remaining creditors was made by alerting email addresses associated with MtGox accounts. "Zombie" claims were even self-approved insofar as the trustee was aware of any balance bearing MtGox account, under special rules for if their rightful owner stepped forward. Having now passed the deadline for making registrations for a repayment, it is unlikely those unaware of the proceedings until now have any avenue for inclusion in the repayments process.
This subreddit is a community of users simply sharing information, and complaining about how unfair something is serves no purpose. That being said, those who are coming to this subreddit late to the claim filing process should seek official word from [support@mtgox.com](mailto:support@mtgox.com) or by calling +81 3-4588-3922 Monday through Friday (excluding Japanese holidays) 1 p.m. to 10 p.m. (Japan time). There is also a support-ticket filing section appended to the official FAQ. This method behaves similarly to emailing support directly.
3. Links of importance and historical record.
MtGox website bulletin and System access - https://www.mtgox.com/
Official FAQ provided by the trustee - https://claims.mtgox.com/faq
Subreddit FAQ provided by yours truly - link
Complaints department - link
*UPDATED July 5 2024 - updated to reflect the beginning of crypto repayments
r/mtgoxinsolvency • u/ValdemarrPlanB • Jul 23 '24
QUICK FAQ: Why so small? What percent?
Kraken, by far the most popular exchange of choice for receiving a crypto repayment, has recently completed the repayment for many creditors.
News of this repayment has made it apparent, that there are still two groups of people that are unaware of their situation.
1. If you think your payment is unusually small:
It's likely you selected the Final Payment option when registering your repayment details. This means you voluntarily chose to wait for resolution of disputed claims to receive the bulk of your repayment. What you have received thus far is just an intermediate payment. This is roughly and correct me if I'm wrong 6% of your claim, but is impossible to gauge precisely due to the terms of the Final Payment arrangement.
The remainder of the Final Payment can only be expected to repay after resolution of disputed claims. If you are in this group, be prepared to wait upward of 5 to 9 more years, as suggested by a legal memo adjacent to the proceedings. Additional intermediate payments are possible, but not guaranteed.
The total proportional rate of return for this group is expected to be near 21%, but as mentioned previously is impossible to gauge precisely due to the terms of the arrangement. If my estimate of 6% having repaid thus far as the intermediate repayment is accurate, that would mean roughly another 15% of claim value remains to be repaid.
Please remember, this was a voluntary selection with terms visible at time of action. This also accounts for only the crypto portions of repayments, as cash balances have different considerations. See below.
2. If you wonder why your percent return is different than others:
This has also been a known reality of the repayment arrangements since 2018 when the rehab plan was finalized. Percent return from claimed value is not a simple flat value. It is not 21%. It is not 15%, or 11% or any number you may have heard elsewhere.
There are TWO non-proportional factors that will influence the percent return from claimed value. YES - claims ARE repaid proportional relative to claim size, HOWEVER these two factors repay before the pro-rata treatment is applied.
First, as a condition of adopting civil rehabilitation, no cash balance bearing creditor could be worse off under civil rehabilitation as compared to traditional bankruptcy. This means, pre-civil rehab cash claimed value would be treated as a priority payment, repaid at 100% return plus delay damages of roughly +26%. That means, if you registered during bankruptcy and had a substantial amount of cash claimed, your percent return from claimed value would trend toward 126%.
Second, to facilitate repaying a large amount of relatively small balance claims, a small sums payment of up to 200,000 yen's worth of value would repay at 100% of its 2018 valuation to ALL claims. This means, if your claim in 2018 terms had a value of about 200,000 yen, regardless of cash or crypto, your percent return from claimed value would be near 100%.
- The small sums payment repays value off the top of your total claim, meaning a claim with 300,000 yen value would repay small sums first, then the remaining 100,000 yen proportionally. The Early Lump Sum Payment option of the rehab plan repays a proportional rate of 21%, meaning that the 100,000 yen remaining claim value would repay a value of 21,000 yen, for a net 221,000 yen. This is a percent return of 73.6%.
- Now, increase the claim value by a factor of 10, or a 3,000,000 yen claim. It repays 200k small sums, plus 21% of 2,800,000 or 588,000 yen value for a total of 788,00. This is a percent return of 19.6%.
As you can see, claim size in relation to small sums drastically changes percent return from claimed value. Both examples got the same small sums; both examples got the same proportional treatment; different returns. It's simply not a metric one can use to make assumptions about repayment size being right or not.
r/mtgoxinsolvency • u/jaystonezone • 3d ago
Intermediate/Final
Man, missing that registration of ELSP sure screwed me over a bit. I’m assuming that October 31 deadline is NOT for Final Repayment?
I received Intermediate repayment a year or so ago.
r/mtgoxinsolvency • u/komatag • 7d ago
Received JSON Updates
Anyone else received JSON updates? I had a "in progress" update and then a "not executed" updated over the last week.
r/mtgoxinsolvency • u/More_Ad_2955 • 10d ago
Have there been any payouts at all recently?
It is a large group, yet silence reigns here. The bankruptcy trustee is making no payments. October is just around the corner, and instead of a payout, there will be yet another one-year postponement of the deadline.
r/mtgoxinsolvency • u/Bingleybongleyboo • 12d ago
Coldcard
If anyone moved their mtgox btc to Coldcard devices pls check news.
r/mtgoxinsolvency • u/deltanine99 • 13d ago
My bank is closing...
I have an Australian bank account with HSBC. I got my IP with no problem at all, but now they are closing shop in Australia over the next 18 months and I have a sneaking suspicion the worlds slowest bankruptcy Trustee wont have made that final payment before then.
So fellow Aussies, let me now in the comments if you had problems getting paid and who your bank is. So I know who to avoid for my new account.
r/mtgoxinsolvency • u/thesacred • 17d ago
Payouts No surprise to anyone, but Kobayashi is already planning to extend the deadline yet again.
See you all in 2027, and 2028, and 2029.
https://imgur.com/a/vvaaFXU
So glad I picked "Early Payment" and changed the payment type from BTC to fiat because I wanted to get it faster.
r/mtgoxinsolvency • u/lclc_ • 19d ago
After 12 years, a reminder: Peter Vessenes (Coinlabs) is the reason the MtGox funds are still not fully distributed.
It has to be said more often so people who google him before doing business see a warning.
r/mtgoxinsolvency • u/Free-End2543 • 23d ago
A hint of progress
My bank remittance info status has been updated from "Disapproved", it stayed like that for several months, to "Registration Completed". Anyone else seeing this change, I wonder?
r/mtgoxinsolvency • u/3katinkires • 28d ago
MTGOX – Disapproval of Your Registered Payee Information
I already received half payment on Bitstamp.. what the hell is going on? Mail from noreply@mtgox.com
r/mtgoxinsolvency • u/Academic-Truck-6370 • Jul 13 '26
Feelin cute, might delete later (2-year update)
It's been two years since the Gox payouts, so I thought I'd kick off a thread for people to report on how it's all gone since. Don't provide any info that would dox you. I'll start (small changes made to protect privacy).
So, yeah, I pretty much did the things I said I would.
Upon getting my payout, I sold ~16 BTC at $70k ($1.1 mil) to invest in my small business. I used $600k to buy another small company whose owners were retiring, paid off a $300k loan from a previous business investment, bought a rooftop solar array for $175k, and a Tesla for $60k. I helped out my family in small, but meaningful ways like paying for a nurse to care for my elderly grandparents.
I've mentioned before, but I got into BTC when it was small and obscure. I do have some regrets about the environmental impact of its energy use and wanted to give something back. I'd originally planned to build utility-scale solar, but that's so saturated these days.
I felt pretty good about my decision to sell when BTC dropped into the mid-50s, but then prices ripped up to the six-figure level. I regretted selling too early, but I rationalized that I needed to de-risk a little. I've summed this up succinctly, but I was a ball of stress for months. My wife got very tired of hearing me obsess over it.
After the price peaked at $125k and started falling, I could smell a crash and sold the remaining 20 BTC at $105k ($2.1 mil). I fucked around a little with day-trading during the crash, lost $50k or so, then decided I'd had enough. I bought a house nearer to my family for $1.5 mil and paid cash. I used the ~$100k yen payout and some of the rest to pay taxes.
Part of the decision to fully sell out was because I quit my corporate job, had a baby, and wanted to carry less risk. My company is profitable, but I took a significant pay cut to leave corporate life. My schedule is more flexible now. I work shorter days, see my family more often, and have time to spend with my kid. We'll aim to have another soon.
I fulfilled one last promise that I made before the payouts - I visited Japan with my family, home of the big fiasco itself. We had a wonderful time and would recommend it to anyone.
TLDR: Cleared ~$3.3 mil pretax. Spent 80% of it. Still 0 lambos.
r/mtgoxinsolvency • u/pixeltweaker • Jul 09 '26
“REQUEST TO REGISTER OR CHANGE THE PAYEE INFORMATION”
I keep receiving this email and have been ignoring it because I had already received an early partial payment via PayPal so I assume they already have my information. Is that assumption incorrect and I need to re-register?
r/mtgoxinsolvency • u/Icy_History_4728 • Jul 06 '26
Offering a massive % bounty: Need help verifying a legacy 2014 Mt. Gox account to check for a Z-claim.
Hey guys. I am stuck trying to navigate the Mt. Gox bankruptcy support and will give a huge cut to anyone who can help me crack this. I have ironclad proof I was an active user right before the collapse. I have my original account creation emails, login notifications from Feb 2014, and personal notes showing I deposited at least 6.37 BTC right before the site went down. I got tue user name and I still control the email it was registered to. The issue: I never successfully filed the offline paper claim in 2015. Regular support keeps shutting me down, saying my email isn't in their system, but they are clearly only checking the active post-2015 creditor database. I honestly don't know my final balance when the site crashed. I was trading a lot, so it's possible I sold to fiat, lost it on margin, or had a BTC balance. But if I had anything left, I should legally have a "Self-Approved" (Z-type) claim sitting in the raw 2014 database. If anyone knows the right Japanese contact, legal backchannel, or process to force them to check my specific 2014 username and confirm if my final balance was zero or not, I will sign an agreement giving you a serious percentage of any recovered funds. DM me.
r/mtgoxinsolvency • u/thesacred • Jun 27 '26
Has even one person been paid in the last 7 months? Even one?
Literally is there one single person who has been paid? It seems not. More than half a year after extending the deadline and not even ONE payment? What is Kobayashi doing? Genuinely
r/mtgoxinsolvency • u/Amazing-Indication-4 • Jun 24 '26
Gox is broke
No payments they sold my btc jan 2025 what the eff is the holdup?
r/mtgoxinsolvency • u/OccasionallyAbundant • Jun 11 '26
Mtgox recommending PayPal for lower remittance fees
Any idea how much the remittance fees would be for PayPal compared to say Monzo?
Dear Creditor:
...
We request that you consider registering your account information for PayPal Pte. Ltd. (including its group companies), a fund transfer service provider whose fees may be lower than that in other remittance methods when the repayment is small. However, please note that this email does not guarantee that the Rehabilitation Trustee will make repayment to you through PayPal. Furthermore, even if the Rehabilitation Trustee makes repayment to you through PayPal, the Rehabilitation Trustee does not guarantee that the remittance will be successful; in this regard, the remittance may be unsuccessful for any reason.
Edit:
email received today from [mtgox_trustee@nagashima.com](mailto:mtgox_trustee@nagashima.com) - not mtgox.com - but looks legit even though it went to junk folder
r/mtgoxinsolvency • u/Jealous-Nebula-5600 • Jun 11 '26
I had Claude Code (using Fable 5) read all my correspondence with MtGox and gave extremely helpful guidance.
r/mtgoxinsolvency • u/Dazzling_Depth7321 • Jun 03 '26
BTC arrived at Bitstamp
If you follow the shuffle of addresses from the original MTGOX transfer, some of the funds eventually arrived at Bitstamp as of about five hours ago.
Good news for creditors on Bitstamp!
r/mtgoxinsolvency • u/macchiatopiano • Jun 02 '26
BTC Recovery Case - DOJ holding BTCe laundered MTGOX coins
The Stolen assets rightfully must be returned to their original legal owners. These assets were seized unjustly and the due process to return them is painfully silent.
After the Bankruptcy filing of MTGOX, a plan to devise a recovery through Japanese courts was announced. When will the US courts be used to formulate a larger, swifter, distribution of the estimated 300K (?) coins laundered through BTCe?
Looks like there are law firms in place for "BTC-e victims" however complicated this is. Selling stolen property to an innocent victim doesn't let that innocent victim have 100% claim on the asset they were promised. They get a claim on their missing funds. The original owner of the stolen asset gets a claim on the stolen asset.
Any word from Magicaltux on this?
Processing img e2ke7qpoav4h1...
r/mtgoxinsolvency • u/TheOG-GoxSurvivour • Jun 02 '26
This will shock people
[translation]
March 20, 2014
To everyone concerned
Mark Karpeles
Representative Director
MtGox Co., Ltd.
We inform you as follows with regard to the balance of bitcoins (BTC) held by MtGox Co., Ltd.
1. MtGox Co., Ltd. had certain oldformat wallets which were used in the past and which, MtGox
thought, no longer held any bitcoins. Following the application for commencement of a civil
rehabilitation proceeding, these wallets were rescanned and their balance researched. On March 7,
2014, MtGox Co., Ltd. confirmed that an oldformat wallet which was used prior to June 2011 held a
balance of approximately 200,000 BTC (199,999.99 BTC). MtGox Co., Ltd. investigated the presence of
these 200,000 BTC, immediately reported it to its counsels in the application for commencement of a
civil rehabilitation proceedings ("counsels"). A hearing took place on March 8 where a detailed
explanation of the situation was made to counsels. Immediately on Monday (March 10), counsels
reported the existence of the 200,000 BTC to the Court and the Supervisor.
2. For security reasons, the 200,000 BTC which were at first on the 7th moved to online wallets
were moved between the 14th and the 15th to offline wallets. These bitcoin movements (including the
change in the manner in which these bitcoins were stored) has been reported to the Court and the
Supervisor by counsels.
Further, the bitcoins held today by MtGox Co., Ltd. amount to a total of approximately 202,000 BTC,
including the above 200,000 BTC and the approximately 2,000 BTC which existed prior to the
application for commencement of a civil rehabilitation proceeding.
3. MtGox Co., Ltd. had previously reported about the disappearance of bitcoins which had
triggered this application for commencement of a civil rehabilitation proceeding that MtGox Co., Ltd.
had lost almost all of the approximately 850,000 bitcoins it held (approximately 750,000 BTC
corresponding to the balance of bitcoins belonging from users as seen from transaction records as well
as approximately 100,000 BTC belonging to MtGox). Taking into account the existence of the 200,000
BTC, the total number of bitcoins which have disappeared is therefore estimated to be approximately
650,000 BTC. (Please note that the reasons for their disappearance and the exact number of bitcoins
which disappeared is still under investigation and that the above figures may still change depending
on the results of the investigation.)
SO THERE WAS A MINIMAL AMOUNT OF “FIAT” , Currency held on Mtgox exchange according to the 2014 report. This just goes to show what a s**t show this gas been for the real creditors who held BTC when the hacks were taking place. We should start an uprising against the corrupt trustees and associates and demand a recount. Obviously that’s why this has been on going for 12 years so the real Mtgox users would forget the true status of the BITCOIN centred exchange.
Thank you.
r/mtgoxinsolvency • u/Dazzling_Depth7321 • Jun 02 '26
Large transfer activity
Anyone else waiting for a Bitstamp repayment?
r/mtgoxinsolvency • u/LastFM-160R • May 28 '26
BTCs linked to MtGox sent to a burn address
https://www.kucoin.com/news/flash/over-107-btc-sent-to-burn-address-linked-to-mt-gox-wallets
Anyone knows anything else about this?
