Adoption Analysis News

The next court proceeding for Mt Gox bankruptsy is postponed until September 2018

Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in July 2010, by 2013 and into 2014 it was handling over 70% of all bitcoin transactions worldwide, as the largest bitcoin intermediary and the world’s leading bitcoin exchange.

In February 2014, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy protection from creditors. In April 2014, the company began liquidation proceedings.

Nobuaki Kobayashi, the lawyer and trustee of the Mt Gox bitcoin exchange has revealed that he sold bitcoin and bitcoin cash worth more than $400 million over the past few months since September last year. The Mt Gox trustee currently holds about 166 344,35827254 BTC.

The next court proceeding for Mt Gox bankruptsy won’t happen until September 18, 2018. Before then Nobuaki Kobayashi will not have authorization to dump the remaining 166 344 BTC on open market.

Civil Rehabilitation may see remaining 166 344 BTC distributed to the creditors themselves.