The Mt. How Will Selling Gox Bitcoin Affect BTC Price?
Victims of cryptocurrency Mt.Gox are getting closer to compensation after the once-popular exchange collapsed a decade ago.
Screenshots of emails are circulating on social media announcing that victims will receive payments in BTC/BTH.
MT Gox victims are set to receive payouts after nearly a decade.
MT Gox collapsed in 2014 after claiming to have lost around 750,000 of customers' BTC and 100,000 of its own BTC.
The former CEO of the crypto exchange, Mark Karpeles, has been charged with money laundering and breach of trust. However, he was found not guilty of most of the charges.
An email circulating on X (formerly Twitter) suggests that victims will soon have their digital assets back. These digital assets disappeared a decade ago.
“In the future, the exchange is expected to accept your registration to receive payment as your agent in BTC/BCH, the agency invoice shown on the system.”
Meanwhile, another user on X reiterated to his 50,200 followers, “BTC distribution expected to be marketed in next 2 months, 200K BTC unlock.”
Many speculate about its impact on the price of Bitcoin. Positively, it strengthens the overall regulatory environment for crypto.
The Mt. Gox hack stands out as one of the first and most famous attacks on crypto exchanges. At a time when crypto was not gaining mainstream recognition through sporting events and television commercials.
Read more: Bitcoin price prediction for 2024/2025/2030
Amidst the FTX proceedings, clarity emerges over the Mount Gox situation.
Considering the quick and coordinated response to the failure of the FTX crypto exchange, this is probably a positive sign. Especially for those who worry about hacking and malicious attacks on exchanges. This situation shows that the victims are getting their money back.
On the other hand, if those victims receive their assets and sell them in bulk, that could affect the price of Bitcoin.
In the year
However, at the time of publication, the price of Bitcoin is $39,908.
This is a developing story.
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