Mt. Eric Wall, one of Gox’s creditors, said the company is currently unable to register the addresses in the system where creditors want their funds to be sent.
The defunct stock market Mt. Rumors about Gox repaying user funds began circulating on Twitter. Mt. Gox creditors said on Twitter that this was all false, emphasizing that the defunct exchange’s refund system was not yet active.
Mt. Gox Creditors Waiting To Get Their Funds Back
In a thread of tweets, Eric Wall found himself in a Mt. Gox as his creditor and said that the sale of 137,000 Bitcoins will not cause a sudden drop, despite the rumors circulating on social media. According to Wall, the exchange has yet to set up the infrastructure needed to initiate the refund.
He also said that at the moment, people cannot enter the addresses they want their Bitcoin and Bitcoin Cash (BCH) payments to be sent to. Wall also believes that payments should be made in several installments, and denies any notion that thousands of Bitcoins will be sold at once, lowering the price of Bitcoin.
Regarding these events, Michaël van de Poppe, CEO of Eight Global, tweeted about the subject:
BREAKING:
Mt. Gox will not be releasing the #Bitcoin, and will delay the distribution, once again.
The entire crypto space was stressing out heavily on this, but unwarranted.
— Michaël van de Poppe (@CryptoMichNL) August 28, 2022
One of the creditors, Eric Wall, also stated that the crypto exchange has not yet said a deadline on when it will resume the refund process. Following this, the creditor argued that even if the creditors’ Bitcoins on the stock market start to be paid back, it would be more correct to give them in Bitcoin rather than cash due to the current market conditions.
Another Mt. Gox creditor Marshall Hayner also said they are not yet close to getting their Bitcoins back. Hayner also informed the community that he knows that many who will receive their refunds from the exchange do not intend to sell their Bitcoins.
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