BitGo Faces User Frustration | Issues with MtGox Fund Disbursement

A growing number of people are expressing their concerns over BitGo’s handling of Bitcoin repayments from MtGox, following a recent announcement detailing fund transfers. Users are confused, frustrated, and now unsure about how to get their money.

Confusion Surrounds Fund Transfer

An email from MtGox informed users that funds were sent to BitGo. The message stated that a transfer occurred on March 7, 2025. Yet, many claim they can't see these funds in their accounts.

One user shared, "I received confirmation that funds were sent, but it isn't showing up in my wallet. It was supposed to be there!"

In a follow-up email, BitGo clarified that the wallets in question are not custodial, advising users to create new custodial wallets. Further complicating matters, users must inform the MtGox trustee of these new wallet addresses to facilitate the disbursement. Is this a bureaucratic hurdle?

User Reactions: A Mixed Bag

People's sentiments range from hopeful to anxious. While some are willing to follow BitGo’s guidance—"Do what they say and create custodial wallet with them," others point out that this seems redundant if funds have already been sent.

Another user questioned, "How can I contact the MtGox trustee to resolve this if BitGo claims they already sent my money?"

Key Takeaways

• Frustration Levels Rising: Many users feel misled by communication regarding their funds.

• Custodial Wallet Requirement: BitGo insists on new wallets to process repayments.

• Need for Clarity: Users are asking for clearer instructions amid the confusion.

"We are not showing that you have been refunded at this time." - BitGo's Response

What’s Next?

With the deadline for creating custodial wallets looming, time is of the essence. Will users receive their funds, or will they find themselves tangled in endless red tape? Stay tuned as this story develops.