Deadline for Filing MtGox Bankruptcy Claims Extended to July 29

The deadline for creditors to file claims against bankrupt bitcoin exchange MtGox has been extended until July 29, 12:00 JST.

The deadline for creditors to file claims against bankrupt bitcoin exchange 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.

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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”.

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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.

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