Mt. Gox: refunds to creditors arrive
The trustee of Mt. Goxthe famous exchange that in February 2014 suffered a 850,000 BTC exploitwould have communicated to the creditors that, starting from July 2024, the latter will begin to be refunded.
The indiscretion, shared by Bloomberg through a document, would therefore signal the end of a period of wait lasted more than 10 yearswhere users of the now-defunct Cex waited to be refunded.
Again according to the trustee, repayments will begin in collaboration with other exchanges, and the order of the latter will depend on the respective cex.
As positive as the news may be for former users of the exchange, the market and the community do not seem to react with as much enthusiasm. The amount to be repaid is in fact impressive, and it seems it will start from an amount of $9.4 billion in BTC for approximately 127,000 creditors, already moved last May 28 by a series of cold wallets associated with Mt. Gox.
Bitcoin continues to fall
Bitcoin’s reaction on the market was immediately visible, on a day in which the selling pressure was already high due to various other factors. The creditors in question, in fact, will finally be able to have freedom of action with respect to theirs huge profit position (not) realized in the last 10 years, and they will probably take advantage of it for a take profit.
This very eventuality could influence the price action of BTC, and traders seem to act accordingly now. Obviously, no one can predict with certainty what these investors intend to do, but for Bitcoin the path in the short term now seems clear, with BTC increasingly close to $60 thousand.
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