https://www.mtgox.com/img/pdf/20220831_announcement_en.pdf
Here’s the legal document citing the Rehabilitation Plan for Mt. Gox.
For awhile its been circulating around the crypto space that the Mt. Gox reimbursement for lost customer funds would effectively spark a ‘black swan event’ similar to something like LUNA collapse or when Russia launched the invasion of Ukraine but thats just not true. The idea that 140k bitcoin will just be spewed out like a volcano to the public is an overly simplistic perspective on the nuances of bankruptcy proceedings.
There’s alot of data that needs to be collected for thousands of creditors, and they most likely will be collecting that data for quite some time and provide flexibility to make sure all of these details are concise. There is no ‘bankruptcy bot’ that has 140,000 bitcoin running on a code containing all of the creditor’s location, banking info, account balances, etc. Though something like that would be incredibly convenient (and cool) it would also be lazy and reckless. This has been an 8 year process, and the final stage of it doesnt just blink and disappear.
As a Celsius user, I was actually hoping there would be much less bureaucracy but the system is in fact much more sophisticated and drawn out than what peoples misconceptions believe
https://mobile.twitter.com/ercwl/status/1565102649107693568
TLDR; dont listen to people like Richard Heart or Bitboy or Coin Bureau or whoever saying bitcoin is going to nuke off Mt. Gox event
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