Mt. Gox, the now-defunct crypto exchange, has announced that its bankruptcy trustee is nearly finished compensating creditors who completed the necessary steps.

However, many creditors still need to finalize their procedures, delaying their payments.

Some issues during the compensation process have also held back payments for many creditors.

To help address these problems, the trustee has received court approval to extend the compensation deadline by one year, from October 31, 2024, to October 31, 2025.

This extra time aims to allow affected creditors to complete the required processes and receive their payments fairly.

Source: CoinPedia