Mt. Gox, the crypto exchange from which bitcoin (BTC) now worth almost $23 billion was stolen nearly a decade ago, has delayed the deadline for repaying people by a year, its trustees said on Thursday.

The new deadline for the now-defunct exchange is Oct. 31, 2024, instead of Oct. 31 of this year.

The creditors of Mt. Gox have been looking for some sort of relief for a decade. The prominent crypto exchange was hacked in 2014, which led to 850,000 bitcoin (BTC) being taken. The exchange ultimately managed to recover around 20% of the stolen tokens.

The Mt. Gox repayment could have some impact on bitcoin prices, due to the sheer size of the tokens being released, but would not destablize the market, UBS had said in a report earlier this year.

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Parikshit Mishra

Parikshit Mishra is CoinDesk's Deputy Managing Editor responsible for breaking news coverage. Before joining CoinDesk, he was the European Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.