2024

Bitcoin

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 Bankrupt crypto exchange Mt. Gox transferred over 140,000 bitcoin, worth roughly $9 billion, this morning as it prepares for creditor repayment in a ‘secure manner.’
 In total, 16 bitcoin transactions were sent from Mt. Gox wallets and correlated with a bitcoin price dip of almost 2%. This morning alone, multiple bitcoin transactions ranging from $1.4 million to $2.2 billion were sent to this address: 1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6. It first received nearly $4 worth of bitcoin on May 20.&nbsp;
 The address receiving the <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> has since sent almost 4,022 <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a>, worth over $273 million, to further wallets.&nbsp;
 Mt. Gox said it is preparing to repay a portion of cryptocurrency rehabilitation claims either through the sale or direct transfer of crypto, whichever the creditor chooses.
 However, after a series of inquiries and deep concern about its <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> management, the exchange clarified that “the Rehabilitation Trustee has neither made repayment… nor sold <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> and <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> cash to make repayment.”
 “The Rehabilitation Trustee is currently managing <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> and <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> cash in a secure manner,” it added in an official statement.
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 As far as I know everything is fine with MtGox. The trustee is moving coins to a different wallet in preparation of the distribution that will likely happen this year, there is no imminent sale of bitcoins happening.— Mark Karpelès (@MagicalTux) May 28, 2024
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 The former Mt. Gox CEO sharing his thoughts on the bitcoin transfers.
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 Mt. Gox was one of the first <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> exchanges to be established but collapsed in February 2014. Roughly 240,000 creditors were affected and 850,000 <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> lost.
 An account claiming to monitor outgoings ‘on all known addresses held by the Mt. Gox trustee’ reported that roughly 0.11645937 BTC worth $7,925 is left in wallets held by Mt. Gox.
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 Mt. Gox repays some creditors, emails others to confirm accounts
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 Read more: Who owns MtGox claims to billions of dollars in <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a>?
 Users online have speculated that the latest transactions could be the first step in the crypto exchange repaying creditors. That said, some creditors were reportedly paid back 80% of their claim earlier this year after Mt. Gox began reaching out to confirm creditor account details. Some creditor repayments reportedly began last December.&nbsp;&nbsp;
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/mt-gox-hasn-t-sold-any-of-its-140-000-bitcoin-but-it-s-planning-to-tbt90122.html">https://thebittimes.com/mt-gox-hasn-t-sold-any-of-its-140-000-bitcoin-but-it-s-planning-to-tbt90122.html</a>

Mt. Gox hasn’t sold any of its 140,000 bitcoin but it’s planning to

TheBitTimes

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