#MtGox  said on Friday that it started making repayments to customers into July 2024, ending a near 10-year wait for some users to get their crypto back after a 2014 hack sent the crypto exchange into bankruptcy.

The company was once the world’s top crypto exchange, handling over 70% of all bitcoin ( $BTC ) Txns. in its early years. The hack resulted in the loss of an estimated 740,000 #bitcoin  

Mt. Gox moved 47,228 $BTC , signaling the start of their repayment process, which has caused some market fear due to the large potential to sell-off ...

However,

"it's worth noting that despite these concerns, the long-term impact may be less severe as the market gradually absorbs the selling pressure too due to the upcoming Bullish Market trends, but for short term it impacts the market."