Various news outlets yesterday reported that Mt. Gox has included the allegations that he will start the distribution of 140 thousand Bitcoin (BTC). However, today a Mt. Gox creditor denied the allegations that 140,000 BTC will be distributed soon.
One creditor, Mt. Gox denies allegations that he will distribute Bitcoin
Once one of the major Bitcoin exchanges, Mt. Gox lost 850,000 Bitcoins after an attack. The stock market failed to survive a robbery of this scale and went bankrupt in 2014. Long after these events, Mt. Gox announced that he recovered some of the Bitcoins. Therefore, the distribution of their creditors came to the fore. According to a plan approved by creditors, the board of trustees managing the redistribution of BTCs announced last month that the repayment of Bitcoins is imminent. However, there has been no development since then.
As we reported as Kriptokoin.com, different sources, yesterday, Mt. He claimed that Gox will distribute BTCs from today. However, no confirmation has come from the authorities regarding this issue. Today Mt. Eric Wall, one of Gox’s creditors, denied the news that 140,000 BTC would be distributed soon. He even said that even the payment system has not been created yet. He also stated that an exchange option where affected investors can receive their payments is not ready. Accordingly, he shared the following on Twitter:
PSA: Mt.Gox is not distributing any coins this week, next week or the week after that. Source: I am a MtGox creditor. The refund system is not yet active. Next step: Go and block TheAltcoinHub for spreading this misinformation.
PSA: MtGox is *NOT* distributing any coins this week, or the next week, or the week after that.
Source: I’m a MtGox creditor. The repayment system is not live yet.
Next step: Go and block @TheAltcoinHub for spreading this misinfo.
— Bearica Wall (@ercwl) August 27, 2022
The Mt.Gox creditor also made some additional disclosures. In this context, BTC said that BCH payments will be made in tranches. It also noted that some creditors sold their rights to Fortress.
dumping rumors
According to rumors circulating the day before, Mt. Gox was supposed to start Bitcoin distribution today, August 28. Many were worried and saw the rumor as a ‘black swan’ for the cryptocurrency market. The panic put additional pressure on Bitcoin and the rest of the market, which had already dropped significantly after the Fed’s hawkish rhetoric at the Jackson Hole symposium. The price of BTC at that time dropped below $20,000.
Mt. Gox probably decided to play ahead of the curve, based on the July news about the exchange’s compensation payments. As we reported as Kriptokoin.com, in July, Mt. An updated Rehabilitation Plan has been published on the Gox website. Accordingly, it was stated that compensation claims from the victims will be accepted until August, and then a review and payment period will begin. However, neither then nor today, the court, creditors or Mt. Gox liquidators themselves did not provide exact dates or any other specific information.
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