Creditors of the collapsed crypto exchange Mt. Gox have begun receiving bitcoin and bitcoin cash transfers on the Kraken exchange, following a recent transfer of 48,641 BTC from the Mt. Gox Rehabilitation Trustee.
Points
- Mt. Gox creditors start receiving bitcoin and bitcoin cash on Kraken
- 48,641 BTC transferred from the Mt. Gox Rehabilitation Trustee
- Kraken expected to distribute funds within one to two weeks
- Previous transfers included 42,587.49 BTC
- Creditors awaiting long-overdue repayments
Creditors of the collapsed crypto exchange Mt. Gox have finally started receiving bitcoin and bitcoin cash transfers on the Kraken exchange, according to reports from a Telegram group of Mt. Gox creditors. This follows a recent transfer of 48,641 BTC, valued at over $3 billion, from the Mt. Gox Rehabilitation Trustee to Kraken on July 16. The exchange anticipated that creditors would retrieve their funds within one to two weeks.
“The payout comes after Kraken received 48,641 BTC, valued at over $3 billion, from the Mt. Gox Rehabilitation Trustee on July 16 to disseminate to creditors,” The Block reported. “The exchange expected creditors to retrieve their funds within one to two weeks.”
Earlier, Mt. Gox had moved 42,587.49 BTC, worth around $2.8 billion, to new addresses, as reported by the crypto tracking firm Arkham. This transfer is part of the long-awaited process of reimbursing creditors who lost their funds when Mt. Gox collapsed in 2014. The distribution of these funds marks a significant milestone in the lengthy rehabilitation process.
解説
- Creditor repayments: The distribution of bitcoin and bitcoin cash to Mt. Gox creditors represents a long-overdue repayment process for those affected by the exchange’s collapse.
- Significant transfer: The transfer of 48,641 BTC to Kraken highlights the substantial value of assets being reimbursed to creditors.
- Rehabilitation progress: This distribution marks a key milestone in the ongoing rehabilitation process, providing some relief to creditors who have been waiting for years.
- Market impact: The release of such a large amount of bitcoin into the market could have implications for BTC’s price and trading dynamics, depending on how creditors choose to handle their received assets.