Numbers and facts that were discovered in the “Analysis and Research” threads. Further detail now comes from a derived database version of the most recent “20171227_list_of_acceptance_or_rejection_for_all_claimants.pdf” provided by the trustee.
Contents
Summary
- Bitcoin previously held by MtGox 202,185.36
- Bitcoin cash previously held by MtGox 202,185.36
- Cash previously held by MtGox 1,213,801,185 JPY (~11,046,000 USD)
- Bitcoin sold by trustee 35,841.00701
- Bitcoin cash sold by trustee 34,008.00701
- Cash added by sale of Bitcoin and Bitcoin cash 42,988,044,343 JPY (~391,205,700 USD)
- Bitcoin currently held by MtGox 166,344.35
- Bitcoin cash currently held by MtGox 168,177.35
- Cash currently held by MtGox 44,201,845,528 JPY (~402,251,700 USD)
- Total number of approved claims 23,858
- Approved Bitcoin claims 799,722.6 BTC (~386,266,016 USD)
- Approved fiat claims 5,439,257,922 JPY (~52,482,200 USD)
- Approved Bitcoin and fiat claims combined 45,471,867,910 JPY (~413,809,328 USD)
- Date of acceptance or rejection claims list: 24 May 2016 (document revision: 27 Dec 2017)
Accepted Bitcoin claims
The revised figure of 799,722.6 accepted BTC claims comes from converting the accepted JPY equivalent for BTC on each claim individually at the official rate of 50,058.12 JPY/BTC and summing up the total. To prevent rounding errors, the filed BTC value was used unchanged if filed JPY and accepted JPY were identical.
This process was necessary, because the original list of accepted or rejected claims does not contain its own column for accepted BTC. Bankruptcy law stipulates currency claims can only be specified in Japanese Yen, though accepted BTC claims are still of interest to this group.
Claim discrepancies
It may be surprising how nearly 5.2 Billion BTC could be claimed when Mt.Gox at any one point in history only held up to 900,000 BTC in their accounts. The claims database provides interesting clues as to how this happened. By far, most of these claims were not malicious or fraudulent. They were in great part simple mistakes.
Some creditors have entered their BTC claims in JPY, filing 50,058 BTC when they should have entered 1 BTC. On larger BTC claims this error quickly added up.
Other creditors made mistakes of units, especially from countries using inverse notations of decimal point and thousands separator. Some European creditors for instance filed 12,345 BTC when they should have filed 12.345 BTC. Understandably, large BTC claims accumulated in this way.
Again others seem to have filed in Satoshis, filing 123456789 BTC instead of 1.23456789.
And finally, some filings were clearly precautionary, from creditors who may have forgotten their true account balances. A high value was picked which the trustee then corrected downwards.
- 3 claims have been corrected upwards by small amounts (less than 2 BTC each)
- Total claims corrected downwards: 5,382
- Claims where BTC only was corrected downwards: 1444 (5,150,608,935 BTC > 18,278 BTC)
- Claims where both BTC and fiat were corrected downwards: 539 (51,000,803 BTC > 3,317 BTC and $19.6 million > $290,000)
- Claims where fiat only was corrected downwards: 3399 ($78.4 million > $6.2 million)
- Claims which were completely rejected for all filed amounts: 935 (78,617 BTC and $42.7 million)
Claim numbers vs. Creditor numbers
Claim numbers are easy to read from the documents made available by the trustee. Creditor numbers are more difficult to establish with absolute certainty from these same documents. The importance of accuracy becomes evident with regards to upcoming voting.
- Total claims: 24,750 (includes 409 name duplicates)
- Total claims rejected: 935 (contains 63 name duplicates)
- Total claims accepted: 23,815 (contains 346 name duplicates)
- Claims filed in short succession (claim ID diff. <100) using identical names: 177
- Of those, 10 had amounts corrected downwards, 13 had some amounts rejected, 25 had their entire claim rejected.
- Duplicate claims, bearing same name and at least one identical amount: 338
- Duplicate claims, bearing identical names, BTC and currency amounts: 115
Some creditors have made multiple filings. In some instances this is probably due to browsing glitches during submission (ie page-reload) as the claim IDs were a maximum of 10 numbers apart and the filed amounts identical. Other creditors may have forgotten whether they filed or not, so they filed again. Their claim IDs are very substantially apart, but name and filed amounts are identical. Some creditors seemed to have filed their amounts successively, submitting currency and BTC values separately or in smaller batches. In many such cases claim IDs are tight enough together or names are sufficiently unique to assume a single creditor stands behind these.
An accurate count of unique creditors should ideally be provided by the trustee.
Creditor analysis
Number of creditors based on their approved claims
- Creditors with BTC only – 9,633 with total claim of $142.3 million (294,692 BTC)
- Creditors with BTC + fiat – 10,078 with total claim of $272.3 million (489,214 BTC + $36 million)
- Creditors with fiat only – 3,399 with total claim of $12 million
Voting power
Voting power of the fiat claimants according to the claims already filed:
- Fiat only creditors: 2.7%
- More fiat than BTC: 3.7%
- At least one sixth of claim is fiat: 9.4%
Claim size
Total number of bitcoins
This is the total number of bitcoins held by Mt.Gox before the theft:
- Coins belonging to user accounts: ~750,000
- Coins belonging to Mt.Gox: ~100,000
- Total: ~850,000
MtGox Cold Wallet balance
The remaining 165,000 BTC held by the trustee. (About 35,800 BTC and 34,000 BCH were sold by the trustee during 2017/Dec through 2018/Feb)
