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

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

Interpretation of this information:

MtGox, one of the oldest and largest bitcoin exchanges in the world, has issued an extension to its customers for the repayment scheme selection deadline. The deadline was extended from March 8 to March 10, Japanese time. The extension was granted to provide enough time to the customers of the exchange to fill out the required forms and submit them for processing.

The decision to extend the deadline was made by the trustee of the MtGox bankruptcy proceedings, Nobuaki Kobayashi. The trustee, working with the Japanese court, has been overseeing the bankruptcy proceedings of the failed bitcoin exchange for several years now. The extension of the deadline was the latest move in the ongoing efforts to compensate MtGox’s customers for their losses.

The extension was granted due to several reasons, including the fact that many customers who are living overseas might have missed the deadline due to the time difference. Additionally, the website used for the form filling process was experiencing slow response times due to high traffic volumes.

This move is significant for MtGox’s customers who have been waiting for years for a resolution to their losses. The exchange, which was once the largest bitcoin exchange in the world, lost 850,000 BTC in a hack in 2014. The loss, which was worth over $550 million at the time, was a major setback for the exchange and the entire bitcoin community. Since then, the exchange has been in bankruptcy proceedings, and its customers have been waiting for a resolution.

The decision to extend the deadline shows that Kobayashi and the Japanese court are still committed to resolving the MtGox issue. The extension will give customers more time to make their decisions and submit their forms, and this could lead to a more equitable distribution of the remaining assets.

In conclusion, the extension of the repayment scheme selection deadline is a significant development in the MtGox bankruptcy proceedings. It shows that the trustee and the Japanese court are still committed to resolving the issue and compensating the exchange’s customers. The three keywords that summarize this content are MtGox, bankruptcy, and repayment.