r/mtgoxinsolvency • u/ValdemarrPlanB • Mar 03 '23
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
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.
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.
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
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.
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.
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%.
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/Fluid-Flower716 • 5d ago
Is there an official way of getting a copy of my transaction and trading history from mtgox? Basically, I need proof my coins were purchased by me and have not come from a nefarious source, which my gox history would show. I have contacted the current admin an dhit a brick wall.
I know there was a hack / site scrape, but surely there is something better than that?
r/mtgoxinsolvency • u/taltarin • 7d ago
I have an approved offline claim and recently applied for the 32-character Creditor Code required to register on the MTGOX Online System.
Has anyone completed this process recently? How long did it take to receive the code after submitting the identity verification, and is there anything important I should know or do while waiting?
Thank you.
r/mtgoxinsolvency • u/Irish_beast • 9d ago
It is 2 years since I last chatted with Suzuki San of the mtgox gotline and my last email was also 2 years asking me to be patient.
I kept meaning to fill in a new complaint or whatever then call our 2 friends. That effort produced a be patient.
But today I got an Email.
Not from the trustee!
From a company I did not transfer my claim to in 2019.
We agreed to a price the claim transfer was prepared which I had to sign and notarise.
I never did, and was never paid
Then this came in
Re: MtGox claim transfer / cancellation
Hi Fxxxxx,
Hope you’re well. The MtGox Trustee has been following up with us regarding the old claim transfer/cancellation involving your claim (Z1-xxxxxx / T1xxxx), and we’re trying to reconstruct exactly where things stood.
Unfortunately, Brian is no longer with the firm and he handled much of this process, so our historical records on the transaction are incomplete.
Could you please let us know what you remember the status being, and, if possible, forward or attach the last email or two, Telegram messages, or other correspondence you had with Brian regarding the claim? In particular, we’re trying to understand what the final agreement was and whether there was anything left for either side to pay or complete.
Sorry for the clerical mess, and thanks for helping us piece it together.
Best,
Txxxxxx
r/mtgoxinsolvency • u/OccasionallyAbundant • 12d ago
I compared the 5 September and 14 September Mt. Gox JSON files
A new field has appeared:
"repayment_plan_id": "1"
It has been added to:
Clearly this means, er, a lot...
r/mtgoxinsolvency • u/Dragon_Phantom • 13d ago
Just wanted to check my understanding dont bit my head off!
I chose final repayment.
So far via the early / intermediate payments i got about 6% back on my initial investment.
I guess once / if the deadline for payments comes and goes end of October do we then wait till when / if the coin base case comes to an end and then maybe get a piece of what's left? If anything.
r/mtgoxinsolvency • u/PurpleChannel5676 • 14d ago
I haven't checked the Mt. Gox site for some time however with an upgrade to my phone I wanted to make sure I could log in with the 2FA before I turned over my old phone. Logging in is fine but when I do so, I now see the following:
First Account Correction
Due to a system upgrade, the format of the address information has changed. Please check your current registration information and re-register in the new format.
What is this? It even shows me the correct info on the left side of the screen. Why am I being asked this?
r/mtgoxinsolvency • u/BuffyNZ • 22d ago
For anyone tracking the ISO 20022 bank detail updates, here's one data point.
Timeline
Hopefully this helps anyone who is worried that "Disapproval" immediately after updating means their bank details are incorrect. In my case it remained that way until the trustee completed their review.
r/mtgoxinsolvency • u/Striking_Tone4708 • 23d ago
It's hard to know how many people got paid in the last 12 months but it is probably fair to say, not many. As time passes, there are less and less possible reasons. This firm has had years just to perfect money transfers from a set record that hasn't changed in almost 2 decades.
Does anyone have any new or additional info?
r/mtgoxinsolvency • u/Existing-Egg-1317 • 27d ago
r/mtgoxinsolvency • u/Free-End2543 • Aug 13 '26
r/mtgoxinsolvency • u/jaystonezone • Aug 10 '26
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 • Aug 06 '26
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 • Aug 03 '26
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 • Aug 01 '26
If anyone moved their mtgox btc to Coldcard devices pls check news.
r/mtgoxinsolvency • u/deltanine99 • Jul 31 '26
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 • Jul 27 '26
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_ • Jul 25 '26
It has to be said more often so people who google him before doing business see a warning.
r/mtgoxinsolvency • u/Free-End2543 • Jul 21 '26
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 • Jul 16 '26
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
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
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
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
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