Mt. Gox Starts $9.6 Billion Bitcoin and Altcoin Payments: Date Cleared!

Bankrupt cryptocurrency exchange Mt. Gox announced the date when it will start paying back.

Mt. In the statement made by the Gox board of trustees on Monday, June 24, it was stated that Bitcoin (BTC) and Bitcoin Cash (BCH) refunds will begin at the beginning of July.

The exchange is planned to distribute 142 thousand Bitcoins ($9.6 billion) and 143 thousand Bitcoin Cash ($66 million) to its creditors.

Mt. In the statement made by the Gox trustee last May, it was stated that the payments would be completed by October 2024.

Founded in 2010, Mt. Gox was the world's largest cryptocurrency exchange before the 850 thousand Bitcoin hack in 2014. Approximately 20 percent of the stolen money was recovered.

Can create selling pressure

There is a big difference between the price of Bitcoin in 2014 and its current price. Cryptocurrency followers, Mt. He thinks that Gox users will dispose of their BTCs after they get them back, which could lead to a selling pressure in the market.

In the past period, Mt. News that Gox would issue a refund usually brought a short-term decrease in the price.

According to CoinGecko data, Bitcoin, which decreased by 0.80% after the news, is traded at $ 62,437 at the time of writing.