🚨🚨🚨 Ten years after bankruptcy, the Mt. Gox exchange wallet transferred out 1 billion worth of Bitcoin
👀👀👀The compensation sell-off caused Bitcoin to fall to $67,000
This may be the first time you have heard of the Mt. Gox exchange. Let me help you sort out the entire process of the Mt. Gox exchange bankruptcy and compensation.
In 2012, Mt. Gox's Bitcoin spot trading volume accounted for 80% of the global trading volume. At that time, there was no Bitcoin leverage perpetual contract trading that appeared later. However, such a top exchange platform was hacked and 850,000 BTC was stolen. In 2014, the Mt. Gox exchange was insolvent and directly declared bankruptcy.
In 2017, the exchange recovered 200,000 BTC, and the BTC price at this time was 618 times that of 2011. In June 2018, Japan approved the compensation of Mt. Gox's creditors. That year, Bitcoin hard forked, BCH and BSV emerged in endlessly, and the compensation included the forked coins, so the creditors made 2 times more money without doing anything. In 2020, Japan postponed the payment of Mt.gox, which suddenly made creditors span the bull market of the 20-21 epidemic, and the price of BTC soared 15 times again.
By 2023, Japan gave a payment deadline of November 2024, paying 140,000 BTC plus 140,000 BCH from the fork. The first time those who received the compensation received the coins should sell them and put them in their pockets. So many people are keeping a close eye on the changes in the Mt.gox address. Once the Mt.gox exchange starts to compensate, it means that the market is facing unprecedented selling pressure. But now, after the US stock Bitcoin spot ETF, there is sufficient liquidity, so there is no need to panic.
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