While the victims were waiting for refunds on the Mt.Gox exchange, which was hacked in 2014, a new development occurred that affected the Bitcoin price.
Accordingly, Mt.Gox transferred BTC to many unknown wallets for refunds.
At this point, in the statement made by Mt.Gox regarding the refunds, it was stated that 142,000 BTC and 143,000 BCH were planned to be distributed to creditors.
While million-dollar Bitcoin transfers in Mt.Gox wallets after a long time created a sales pressure on the BTC price, Bitcoin, which exceeded $ 70,000 yesterday, fell to $ 67,400 after the news.
While Mt.Gox transfers worried Bitcoin investors about a possible sale, a statement came from the former CEO of the exchange, Mark Karpeles.
“As far as I know, there is no problem with Mt. Gox.
The bankruptcy administration transfers the Bitcoins to a different wallet for the payments planned to be made this year.
“A Bitcoin sale is out of the question in a short time.”
In addition to the former CEO's statements, Mt. The official statement came from Gox.
In the statement, it was stated that they have not yet made direct BTC or BCH refunds or sold BTC and BCH to make refunds. It was stated that the Rehabilitation Trustee currently manages Bitcoin and Bitcoin Cash securely.
“The Rehabilitation Trustees are not currently issuing refunds or selling bitcoin and bitcoin cash to make refunds.
“As the Rehabilitation Board of Trustees continues to prepare for refunds, please wait a while until refunds are made.”
Following this statement, Bitcoin began to recover and reached $68,500 at the time of writing.
*MARK KARPELES: MT GOX TRUSTEE IS MOVING THE BITCOIN TO DIFFERENT WALLET TO PREPARE FOR DISTRIBUTION EXPECTED FOR THIS YEAR – THE BLOCK PRO
— The Block Pro Headlines (@theblockupdates) May 28, 2024
What is the Mt.Gox Incident?
Japanese Cryptocurrency Exchange Mt.Gox, which requested bankruptcy after hackers stole 850 thousand Bitcoins in 2014, could not pay the money of many investors after announcing its bankruptcy.
As a result of the lawsuits that lasted for about 8 years, it was determined that there was a wallet belonging to the bankrupt exchange, with 200,000 Bitcoins forgotten in it.
The liquidation commission appointed by the Tokyo District Court ordered Mt.Gox to distribute from its forgotten wallet to creditors who lost all their assets in the stock market.
With the finalization of the payment plan, the Japanese cryptocurrency exchange Mt., which went bankrupt in 2014 and caused many investors to suffer. Gox's plan to distribute 142,000 Bitcoins has reached its final stage.
Since the distribution is not all at once and spread over time, it is not expected to create a serious sales pressure in the market.
*This is not investment advice.
