A recent announcement has stated that Mt. Gox, the defunct exchange, will begin distributing payments of Bitcoin (BTC) and Bitcoin Cash (BCH) starting next month. On June 24, rehabilitation curator Nobuaki Kobayashi released a notice regarding the matter.
According to the notice, the rehabilitation administrator is currently in the preparation phase to make payments in Bitcoin and Bitcoin Cash as part of the Rehabilitation Plan. These payments are expected to commence in early July.
Kobayashi stated in the document, “The rehabilitation administrator is preparing to make payments in Bitcoin and Bitcoin Cash under the Rehabilitation Plan. Now that these preparations are in place, the Rehabilitation Administrator will begin payments in Bitcoin and Bitcoin Cash… starting in early July 2024.”
The notice emphasized the debtor’s commitment to ensuring secure, reliable, and compatible repayment arrangements. As a result, repayments will be initiated in the order of cryptocurrency exchanges with which the Rehabilitation Administrator will complete the exchange and confirmation of the necessary information.
It is worth recalling that last month, Mt. Gox, the defunct Bitcoin exchange, drew attention in the cryptocurrency market by allegedly transferring at least 42,830 Bitcoin from their cold wallets after five years. This transfer was reported by data from the Arkham Intelligence platform and is equivalent to a value of approximately US$2.9 billion.
The platform’s data revealed that Mt. Gox conducted multiple transactions, transferring assets to an unknown address starting at 11 am Hong Kong time on May 28. The bankrupt exchange later carried out additional transactions, moving at least US$9.6 billion in Bitcoin tokens to an unknown address.
At the time of publication, the price of Bitcoin was quoted at US$61,407.48, representing a 4.4% increase in the last 24 hours.
Disclaimer: The views and opinions expressed in this article, by the author or anyone mentioned, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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