MT Gox Confirms Paying Creditors’ Bitcoin Address: Report

Matt Gox, the trustee of the hacked cryptocurrency exchange, is making Bitcoin (BTC) payments by contacting creditors and verifying their identities and accounts.

A number of Mt. Gox lenders have reported receiving new emails from Centgox regarding the completion of identity verification of crypto exchange accounts ready to pay Bitcoin and Bitcoin Cash (BCH).

On January 22nd on Reddit Mt. Gox's insolvency hub, such an email says the crypto exchange cited in the user's recovery claim has confirmed ownership of the account with the trustee. The email mentions that the exchange now expects the user to receive the agency's receipt to receive payment in BTC/BCH.

“Please note that in the future, if your account is disabled or suspended, you may not be able to receive payments in BTC/BCH,” a brief translation of the email said.

Many reddit posters like this email from Mt. Gox trustees have confirmed that they have received it, most of the confirmations come from the Bitstamp exchange. A few Kraken users also said they received a confirmation email, while most Kraken users said they have not received the email yet.

MtGOX BTC distribution is expected to be on the market in the next 2 months, 200K BTC unlock.

This is more than 600K + GBTC.

A 2024 April halving would reduce annual supply by 160k.

Interesting supply dynamics in play in the coming months. pic.twitter.com/0ZNC52YbAH

— Mindao (@mindaoyang) January 23, 2024

The new Mt. Gox emails come when the trustee goes ahead with the bank account payment. The first was the Mt. Gox payment reports were released in late December 2023, with some lenders receiving double payments.

Related: FTX Estate Sells Majority of Greyscale Bitcoin Trust Shares: Report

In the year Founded in 2010, MT Gox was the largest Bitcoin exchange in the world, estimated to facilitate about 70% of BTC transactions before the implosion. The exchange lost 850,000 BTC in a security breach in 2014, making it one of the biggest crypto losses ever.

Matt Gox is expected to pay creditors 142,000 bitcoins and 143,000 forked cryptocurrency, Bitcoin Cash, in addition to 69 billion Japanese yen ($510 million) by October 2024.

Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in.