Mt.Gox will repay 140,000 BTC starting next month! Bitcoin once fell below $61,000 after hearing the news

This site (120btC.coM): Japanese cryptocurrency exchange Mt.Gox went bankrupt due to hackers in 2014. After 10 years of bankruptcy litigation and several delays, the victims who suffered losses finally It is certain that up to 140,000 Bitcoins worth more than US$8.5 billion will be retrieved starting in July. However, this was a negative for the cryptocurrency market, with Bitcoin plummeting on the news, falling below $62,000.

According to earlier reports, Mt. Gox’s cold wallet, after being idle for more than 5 years, transferred 140,000 Bitcoins to an unknown address through multiple transactions on May 28, suspected to be in preparation for paying off creditors. And this speculation was indeed confirmed today (24th).

The Mt. Gox bankruptcy trustee issued an announcement on Monday stating that it is expected to start repaying Bitcoin (BTC) and Bitcoin Cash (BCH) to customers in the first week of July. Recovery plan requirements, initiating reimbursement procedures to cryptocurrency exchanges.

The trustee added that the confirmation and exchange of required information has been completed with the relevant exchanges to ensure the safety and compliance of repayments, and the order of repayments will be carried out in accordance with the exchange of information completion order.

Mt.Gox is expected to repay 142,000 Bitcoins and 143,000 Bitcoin Cash to creditors. People in the currency circle generally believe that this will have a major impact on the market, because creditors all lost their hands about 10 years ago. For all the cryptocurrencies on the market, currency prices have skyrocketed during the period. Now that these assets are finally recovered, at least some of them may be sold. If sell orders emerge, it will put downward pressure on currency prices and cause the market to fall.

CoinGecko data shows that after the Mt. Gox statement was released, the price of Bitcoin collapsed from above US$62,400 to US$61,064 in just 10 minutes. It was US$61,278 at the time of writing, down 4.8% in the past 24 hours.

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