Kraken Gives Official Deadline for Mt. Gox Payouts

Kraken announced that it has received funds from bankrupt crypto exchange Mt. Gox, according to an emailed statement.

The email stated:

We have successfully received the creditor funds (BTC and BCH) from the trustee of Mt. Gox. While we are striving to distribute these funds as quickly as possible, please allow 7-14 days for them to be credited to your account. The amount you will receive is determined by the custodian and we will distribute it according to their instructions.

Earlier today, Mt. Gox transferred approximately 92,000 BTC, worth $5.8 billion, to several unidentified addresses.

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This comes after Mt. Gox announced on July 5 that it had begun paying creditors through certain cryptocurrency exchanges as part of its turnaround plan. The timing of these payments is expected to vary from exchange to exchange.

The official email can be seen below:

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.