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Bankruptcy Trustee completes review of all MtGox claims, status determined

Leading bitcoin exchange Kraken has announced a major update in the investigation of claims from MtGox creditors.

On Wednesday, a Japanese court-appointed Trustee Nobuaki Kobayashi announced that all claims to date have been reviewed and that the status of all claims has been determined. The claimants will soon be able to learn the status of their claim.  Claim status information will not be provided by Kraken support.

During a scheduled creditors meeting in Tokyo, Kobayashi stated that 24,750 creditors have filed claims to date. The total amount claimed to date was 263,519,268,303,371 JPY, or approximately $2,411,412,137,427 USD. However, a single, individual, approximately 260 trillion yen claim is likely to be denied.

Overall, the amount of bitcoin held by the MtGox estate is approximately 202,185 XBT, or $91,185,435 USD at today’s bitcoin price of approximately $451, which Kraken will help to distribute.

“My office and my partners on the Kraken team worldwide are proud to report outstanding news to thousands of MtGox creditors. During our thorough bankruptcy investigation, we have carefully reviewed over 24,000 individual claims and made individual determinations on their validity. In the near future, claimants will be able to browse the MtGox claims website to confirm their status. While the detailed schedule will inevitably be affected by each creditor’s response, we wish to proceed to the distribution process as soon as possible”, said Trustee Nobuaki Kobayashi.

However, the document states that currently the possibility of carrying out a distribution and the timing, method and other such details have not been determined.

Kobayashi further said that multiple investigations are still ongoing, adding that he is cooperating with the Tokyo Metropolitan Police Department in its ongoing criminal investigation of Mark Karpeles. In addition, Kraken, Deloitte, and ReEx Accounting Firm are currently investigating the possibility of whether bitcoin or other currencies disappeared at MtGox. Details and results of these investigations are currently unavailable.

Earlier this month, Kobayashi released a statement saying he will not be releasing the list of bitcoin addresses controlled by MtGox, after identifying “material risks” of endangering personal information or the privacy of users in releasing the list.

In November 2014, Kraken was selected to assist Kobayashi in the bankruptcy investigation of missing Bitcoin, receiving claims and distributing remaining assets to creditors of MtGox.

“Kraken is honored to provide support to the Trustee on behalf of the community and Mt.Gox clients.  We are pleased by today’s announcement and the progress that has been made toward returning clients’ assets.  We’ll continue to offer our assistance wherever possible and I look forward a speedy resolution from here”, said Kraken CEO Jesse Powell.

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