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Author: Admin | 2025-04-28
The crypto community is on high alert as the Mt. Gox trustee moves forward with the process of repaying creditors, signaling a significant release of Bitcoin (BTC) and Bitcoin Cash (BCH) into the market. This development marks a pivotal moment in one of the most infamous episodes in the history of cryptocurrency.Mt. Gox Will Finally Unlock All Bitcoin And BCHAccording to the latest reports, the Mt. Gox trustee has confirmed the initiation of a verification process for eligible repayment clients of the defunct exchange. In a recent email circulated to these clients, the trustee outlined the procedure for confirming account ownership and the subsequent steps for receiving repayments in BTC and BCH through designated crypto exchanges, namely Bitstamp and Kraken.This process follows the earlier commencement of bank repayments in December 2023. The email from the trustee reads, “The Rehabilitation Trustee shared your details, including the account information you registered on the MTGOX Online Rehabilitation Claim Filing System, with the Cryptocurrency Exchange or the Custodian (the “Exchange”), and the Exchange has subsequently confirmed that you own an account at the Exchange and that you have completed identity verification.”MtGOX BTC distribution is expected to hit the market over the next 2 months, 200K BTC unlock. This is in addition to 600K + GBTC repricing.2024 April halving will reduce annual supply by 160k. Interesting supply dynamics in play in coming months. pic.twitter.com/0ZNC52YbAH— Mindao (@mindaoyang) January 23, 2024Significantly, numerous Mt. Gox creditors have reported receiving these new emails, indicating progress in the long-awaited repayment process. However, the email also highlights the importance of maintaining active and verified accounts on the designated exchanges to ensure the receipt of repayments.In a related development, CryptoQuant founder Ki Young Ju addressed recent market movements, noting, “Old Bitcoin is moving. Someone(s) broke an old piggy bank and distributed its contents, likely through OTC deals.” However, he clarified that these movements are unrelated to Mt. Gox, stating, “They haven’t moved their coins. MtGox sent Japanese Yen-denominated refunds to users through PayPal, not Bitcoin.”They haven’t moved their coins. MtGox sent Japanese Yen-denominated refunds to users through PayPal, not Bitcoin.https://t.co/eKnDd23tcF pic.twitter.com/tJWvwEiX4x— Ki
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