- Mt. Gox has started paying its creditors.
- Some creditors have reported receiving double payments.
- The defunct Bitcoin exchange attributed the error to a system issue and demanded the second payment back.
Recently, reports surfaced of Mt. Gox, the scandal-ridden Bitcoin exchange, making repayments to some of its creditors a full decade after its operations ceased. According to several creditors, payments were received in Japanese Yen through PayPal, sparking joy as the exchange’s trustee finally initiated disbursements after ten years.
While some creditors celebrated the long-awaited payments, others found even greater joy, receiving double the amount they originally signed up for.
Mt. Gox in Trouble
After Mt. Gox started distributing creditors their scheduled settlements , a flurry of reports surfaced, with users claiming they had received double payments. News of the blunder broke after a Reddit user claimed the now-defunct Bitcoin exchange had acknowledged the error through email and demanded the second payment be returned.
In the email, Mt. Gox’s Rehabilitation Trustee clarified, “Due to a system issue, the transfer of money to you was inadvertently made twice,” underscoring that the recipient was “not authorized to receive the second transfer” and was obliged to return the specified amount to the Rehabilitation Trustee. Multiple Reddit users confirmed receiving similar emails.
Reddit post with the alleged email from Mt. Gox’s Rehabilitation Trustee.
While some users reported returning the double payment, shrugging it as an innocent oversight, others are pushing back against the Trustee’s mistake. Certain creditors are even considering returning the funds only after completing a Know Your Customer (KYC) check and a waiting period of ten years.
Despite some users joking about not returning the funds, it’s important to recognize that holding onto the extra amount might lead to legal consequences. In extreme cases, if deemed intentional, holding onto funds that don’t belong to you can result in criminal charges such as theft and fraud.
On the Flipside
- Some users stated that the amount they received didn’t tally with the allotment portion shown on Mt. Gox’s website.
- Analysts have expressed their worries that the expected Mt. Gox reimbursement will likely lead to a major sell-off of Bitcoin in the coming months.
Why This Matters
Mt.Gox Trustee’s error could hinder the reimbursement process, preventing rightful creditors from obtaining their deserved settlements.
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