According to TechFlow, Mt.Gox's dormant period may not be over yet, but a series of tokens flowing out of its wallets have attracted the attention of the market. It is speculated that 137,890 BTC with a total value of US$9.4 billion will be transferred to the wallets of creditors, and experts have mixed reactions to this, most of whom are worried that the selling pressure of BTC may increase, causing the price of BTC to fall.
Mt.Gox was once the world's leading BTC exchange, but was hacked in 2014 and lost more than 850,000 BTC. After years of legal battles, Japanese authorities finally approved a rehabilitation plan in 2021, launching a legal process known as "civil rehabilitation" that allows creditors to recover some of their lost funds.
Mt.Gox plans to pay back its creditors, which may have contributed to the 4% drop in BTC prices over the past 24 hours, but the market was eventually able to shake off the impact and rebound. However, there are concerns that these newly released BTC will flood the market, leading to a sell-off and driving prices down further.
