Mt.Qox bitcoin return | Bitcointalksearch.org

malevolent

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Quote from: Tolosi on November 22, 2021, 10:03:18 PM

It is expected that 150.000 Btc will be soon distributed back their owners. How the actual process will go?
I mean how the Tokyo court knows the btc addresses of the owners?

'Soon' for now means somewhere around summer, assuming there are no delays, at least according to BItcoin Builder who's one of the biggest creditors. Payouts will have to go through exchanges, so I wonder if they're going to be hitting people with 'proof of funds' request for coins some have mined or otherwise acquired over a decade ago...

stompix

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Quote from: Tolosi on November 25, 2021, 03:42:51 AM

Are they going to request a new address from creditors or they are planning to use the withdrawal address already in Mt.Gox customer database?

Each credit will complete the details on its own inside the platform, with an address or with the bank account to which he wants the money if he had a fiat claim and if he chooses to entrust the trustee to liquidate his coins on his behalf, I remember that was an option in the rehabilitation plan, but probably most will choose BTC.

Besides using 8 years old addresses would be a nightmare, a lot of funds will end up in lost wallets, plus there is the issue of the BCH in the claims, which obviously no use had at the moment but are entitled to.

Tolosi

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Are they going to request a new address from creditors or they are planning to use the withdrawal address already in Mt.Gox customer database?

stompix

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Quote from: hugeblack on November 23, 2021, 11:48:08 AM

they have process start from Creditor Code using ---> https://claims.mtgox.com/pre-signup then you need to upload the identity verification
document and selfie photos after that you will get Creditor Code, use it to Register/Re-register process using ---> https://claims.mtgox.com/signup after that you will login.

You can't file a claim since 4 years ago:

Quote from: hugeblack on November 24, 2021, 09:46:40 AM

The real question will be how the money will return, is it Bitcoin or the value of Bitcoin at that time,

It's in BTC and each will get around 25% of their initial coins.

hugeblack

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Quote from: Tolosi on November 23, 2021, 12:02:30 PM

I suppose they have to ask from creditors to supply an address for sending them the approved amount of BTC.
Or they might make a contract with an exchange to do this work on behalf of the Court.

The details are still vague and all are awaiting the court’s decision, but unfortunately the judicial procedures are usually complicated and take a lot of time, so people must provide evidence dating back more than 8 years.

The real question will be how the money will return, is it Bitcoin or the value of Bitcoin at that time, the answer to the question may speed up court proceedings or help slow them down.

Overall it's good to be able to get some of the money back.

Tolosi

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I suppose they have to ask from creditors to supply an address for sending them the approved amount of BTC.
Or they might make a contract with an exchange to do this work on behalf of the Court.

hugeblack

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Quote from: Tolosi on November 22, 2021, 10:03:18 PM

It is expected that 150.000 Btc will be soon distributed back their owners. How the actual process will go?
I mean how the Tokyo court knows the btc addresses of the owners?

they have process start from Creditor Code using ---> https://claims.mtgox.com/pre-signup then you need to upload the identity verification
document and selfie photos after that you will get Creditor Code, use it to Register/Re-register process using ---> https://claims.mtgox.com/signup after that you will login.
The process will be slow and subject to the court's decision, so do not expect that all the money will be recovered, and the priority will be for some countries based on the judicial ruling.

dkbit98

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It's not called Mt.Qox but Mt.Gox and they don't care about old addresses used in this centralized exchange because customers never had any control over those coins and keys.
They are probably looking for customer ID and balance they had before so they can send those coins on new addresses.

Tolosi

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I know that it is KYC operation and all participants have been allocated a certain amount of point which I suppose later will be recalculated to BTC. But in the procedure there is no bitcoin address ever mentioned.
What they are going to use - new user supplied addressees or old addresses that existed in the Mt.Qox database? That is the question at least for me,

Jawhead999

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You can read the entire process to claim your Bitcoin here https://www.mtgox.com/img/pdf/20211006_000_announcement_en.pdf

Mt.Gox is a KYC exchanges and the rehabilitation form you need to submit KYC, of course it can be used to know which user is the legit owners and not. However it's always a plan since past years even there's many improvement, but no one has been declared they've got the refunds until now.

Tolosi

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It is expected that 150.000 Btc will be soon distributed back their owners. How the actual process will go?
I mean how the Tokyo court knows the btc addresses of the owners?

Topic: Mt.Qox bitcoin return (Read 153 times)