Deadline for Filing MtGox Bankruptcy Claims Extended to July 29

The deadline for creditors to file claims against bankrupt Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term MtGox has been extended until July 29, 12:00 JST.

Prior to today's announcement, the deadline had been May 29. Bankruptcy trustee Nobuaki Kobayashi did not specify the rationale for the extension.

The case is likely to be drawn out further before creditors receive what remains of MtGox's assets. The exchange collapsed over 15 months ago, taking with it approximately 850,000 bitcoins, 200,000 of which were subsequently "rediscovered".

The exact cause of the coins' disappearance, which may have gone unnoticed for years, is still unknown. Tokyo police suspect it was an inside job. Even if the perpetrators are eventually found, Bitcoin's decentralized structure makes it impossible for authorities to wrest control of the coins.

San Francisco-based cryptocurrency exchange Kraken was selected by Kobayashi to assist with the claims process and the distribution of assets.

After the revised deadline, new claims will no longer be accepted. Creditors will, however, be able to view previously filed claims, transfer them to another person or change personal details.

Currently, claims are being accepted through an online system. Distributions will be made in yen based on the USD/JPY and BTC/USD exchange rates, although Kraken has suggested that it will distribute assets as bitcoins.