Mt. Gox begins repaying creditors, but some report receiving double payouts

However, indications on social media imply that the repayments are restricted to creditors who opted for a cash redemption, with no confirmed reports of crypto repayments presently.

Kamikaz Fiat, one of the most notable names on Crypto Twitter, claimed that some Mt Gox creditors got paid twice today. He added:

“These are the first cash payments in 10 years and on day one the trustee has f*cked up and made incorrect payments.”

Several Mt. Gox creditors on the Reddit subchannel r/mtgoxinsolvency also confirmed receiving double payments.

Mt. Gox’s rehabilitation trustee has yet to respond to CryptoSlate’s request for comment as of press time.

Last month, the exchange revealed plans to start repaying the firm’s creditors in cash during the 2023 calendar year and continue the process into next year due to the large number of creditors.

Mt. Gox, once among the largest cryptocurrency exchanges, encountered significant issues following a 2011 hack before collapsing in 2014. Its collapse affected approximately 24,000 customers, resulting in losses of around 850,000 BTC, valued at more than $31 billion based on the current price of the flagship digital asset.