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Former chief executive officer at early Bitcoin exchange Mt.Gox, which collapsed in 2014, Mark Karpeles, has clarified the recently spotted <a href="https://u.today/bitcoin-plunges-as-mt-gox-starts-distributing-funds-to-creditors" rel="noopener noreferrer nofollow">massive BTC transactions from a Mt.Gox</a> blockchain wallet.
A recent official announcement from the exchange also stated that no direct repayments of either Bitcoin or Bitcoin Cash have been yet made to the creditors through designated crypto exchanges. The statement also says that no crypto has yet been sold to make those repayments from the proceeds. “The Rehabilitation Trustee is currently managing Bitcoin and Bitcoin Cash in a secure manner,” according to a tweet by Chinese crypto journalist Colin Wu, who quoted the statement made by Mt.Gox.
<blockquote>
 Mt. Gox stated in the latest official announcement that they have not yet made direct repayments of BTC or BCH through designated cryptocurrency exchanges, nor have they sold BTC and BCH to make repayments from the proceeds. The Rehabilitation Trustee is currently managing… <a href="https://t.co/M8VWgECJ9A" rel="noopener noreferrer nofollow">https://t.co/M8VWgECJ9A</a>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1795394916606153125?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 28, 2024</a>
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Mark Karpeles has also taken to the X platform to confirm that the $5 billion in Bitcoin that has been moved from Mt.Gox to a new wallet were not preliminary steps to selling this crypto. In his X post, the former CEO of the battered crypto exchange said that the Rehabilitation Trustee is currently transferring Bitcoin to a different wallet "in preparation of the distribution that will likely happen this year." He stressed that "there is no imminent sale of bitcoins happening" right now.
<blockquote>
 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) <a href="https://twitter.com/MagicalTux/status/1795384525503222021?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 28, 2024</a>
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Earlier today, Bitcoin responded to these hefty BTC transactions from Mt.Gox by plummeting almost 4% and losing the recently recaptured $70,000 level. By the time of this writing, BTC has made a slight recovery and is changing hands at $68,467.

No, Mt.Gox Not Selling Bitcoin: Mark Karpeles

U_Today

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