Return of Bitcoin from Mt.Gox: What's Next?

So apparently 150,000 BTC is about to be returned to owners. But how is that even gonna work? How does the Tokyo court know the wallet addresses of the owners?

You can check the claiming process on their website, it's all laid out there. Basically, since Mt.Gox did KYC, they should have records to identify legit owners... but still no one has actually received anything, so who knows.

Yeah KYC is a thing, but I saw no mention of wallet addresses in the whole procedure. Are they gonna use new ones that users provide or stick with the old ones from the Mt.Gox records? That’s a bit unclear.

Lol it's Mt.Gox, not Mt.Qox. I doubt they care about those old wallet addresses since customers never really had control over their crypto there. They probably just need to check IDs and the balances to send coins to new addresses.

So the process kicks off with getting a Creditor Code, right? You need to verify your identity and all that first. But it sounds super slow and we might not see any cash soon, with certain countries getting priority.

Maybe they'll ask creditors for new addresses to send the BTC or they might work with an exchange to handle it. Just a thought.

Details are still super unclear. Everything depends on court decisions, which can take forever. Plus, everyone’s gotta dig up records from over 8 years ago to prove they’re owed something.

Honestly, the real question is whether we’ll get back BTC or the value it had back then. That could really change the speed of the court process.

Been waiting for 4 years to file a claim. That platform is only for those approved by the trustee with their creditor codes. I heard each person might get around 25% of what they had.

Are they even going to ask for new addresses from creditors? I’m wondering if they’ll just use old withdrawal addresses from their database.

From what I understand, each creditor will fill in their details on the platform, like their address or bank info. There was a chance to have the trustee handle coin liquidation for you. But honestly, using those old addresses would just lead to lost funds. Plus, there’s the BCH issue too.

'Soon' seems to mean summer if no more delays happen. At least that’s what I heard from a major creditor. I’m curious if they’re gonna demand proof of funds for coins people mined years back.