MT Gox Bankruptcy Drama Takes An Unusual Turn

The Mt Gox bankruptcy proceeding has been going on for several years now and has become a twice a year ritual for claimants to descend on Tokyo for the latest update on the longest-running crypto bankruptcy case.

The deadline for the rehabilitation is set on October 28th before the bankruptcy court makes a potential decision on the liquidation proceedings, however, there have been some interesting offers of late coming from a Russian law firm of a potential recovery of some funds.

The Russian law firm claims to have identified an unspecified number of alleged criminals in Russia who may have direct or indirect access to bitcoin wallets which may or may not be holding some of the missing Mt.Gox bitcoins.

This might be great news for some of the creditors of the company buy the Russian Law firm is asking for a 75% commission Plus legal fees of $320/hour if there is anything left.

However, it must be noted that this offer remains to be an unverified report that may or may not be true, nevertheless, it is interesting to see how this ongoing bankruptcy proceeding move forword going into its 6th year.