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MtGox Extends Repayment Scheme Registration Deadline

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On March 8, MtGox extended the registration deadline of repayment scheme selection to March 10, Japanese time.

MtGox extended the registration deadline…

MtGox Extends Repayment Scheme Registration Deadline

On March 8, MtGox extended the registration deadline of repayment scheme selection to March 10, Japanese time.

MtGox extended the registration deadline of repayment scheme selection to March 10

Analysis based on this information:


The message states that MtGox has extended the registration deadline for their repayment scheme selection from the original date of March 8 to March 10, following Japanese time. This announcement has come as a surprise to many who were expecting the deadline to remain firm.

MtGox was one of the world’s largest cryptocurrency exchanges that filed for bankruptcy in 2014 following the loss of over 850,000 Bitcoins worth approximately $473 million at the time. However, the exchange’s trustee has been working on repaying the creditors by selling off the remaining Bitcoin assets. One of the crucial steps in this process is the selection of a repayment scheme by the creditors, which includes getting back either Bitcoin or cash or a combination of both, depending on their preference.

This extension may have been offered as a response to the widespread criticism and pushback from the creditors who felt unsure or unclear about what repayment scheme to choose. The extension may provide additional time for the creditors to consider the repayment schemes and select the one that best suits their needs. It may also remove the urgency and desperation that some creditors were feeling during the original deadline, leading them to make hasty and uninformed decisions.

However, the extension may also cause further delay in the repayment process, which has already been long drawn-out. The cryptic and unexplained announcement may fuel uncertainty and result in a further loss of trust in the trustee and the overall process. This may also lead to further legal challenges from creditors who may feel that the extension is arbitrarily made, and their interests are not being adequately protected.

In conclusion, the extension of the deadline for repayment scheme selection by MtGox may have been offered as a measure to alleviate the concerns of the creditors, but it may also result in further delays and uncertainty. The creditors may need to tread carefully and consider their choices wisely before making any decisions, given the complexity and volatility of the cryptocurrency market.

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