Hedge funds buying Mt. Gox clients’ claims: report

At least four hedge funds in the United States and Japan have reportedly started buying claims from the more than 24,000 creditors who lost their bitcoins and cash when bitcoin exchange Mt. Gox collapsed in 2014.

In May 2016, court-approved trustee Nobuaki Kobayashi announced that they have verified a total of 24,750 Mt. Gox investors. These creditors are expected to receive more than a quarter of the lost bitcoins and cash in their accounts, which totals to JPY263.52 trillion (USD2.41 million), Kobayashi said at the time.

Now, sources told the Financial Times that the hedge funds have begun buying or offering to buy claims” from the said investors. According to the report, the hedge funds “are offering claimholders a shortcut that lets them sell their claim now and receive 15 percent of the yen value of each claim in cash.”

A website called mygoxclaim.com offers to link verified creditors, particularly those with more than USD10,000 claims in value, with hedge funds potentially interested in buying their claims.