• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
Bitcoin crash Mt. Gox

200,000 Bitcoin Poised For Release, Mt. Gox Confirms Repayments

Jake Simmons
by Jake Simmons
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The crypto community is on high alert as the Mt. Gox trustee moves forward with the process of repaying creditors, signaling a significant release of Bitcoin (BTC) and Bitcoin Cash (BCH) into the market. This development marks a pivotal moment in one of the most infamous episodes in the history of cryptocurrency.

Mt. Gox Will Finally Unlock All Bitcoin And BCH

According to the latest reports, the Mt. Gox trustee has confirmed the initiation of a verification process for eligible repayment clients of the defunct exchange. In a recent email circulated to these clients, the trustee outlined the procedure for confirming account ownership and the subsequent steps for receiving repayments in BTC and BCH through designated crypto exchanges, namely Bitstamp and Kraken.

Related Reading: FTX Sheds Nearly $1 Billion In Grayscale Bitcoin ETF: Is This The End Of The BTC Sell-Off Saga?

This process follows the earlier commencement of bank repayments in December 2023. The email from the trustee reads, “The Rehabilitation Trustee shared your details, including the account information you registered on the MTGOX Online Rehabilitation Claim Filing System, with the Cryptocurrency Exchange or the Custodian (the “Exchange”), and the Exchange has subsequently confirmed that you own an account at the Exchange and that you have completed identity verification.”

MtGOX BTC distribution is expected to hit the market over the next 2 months, 200K BTC unlock.

This is in addition to 600K + GBTC repricing.

2024 April halving will reduce annual supply by 160k.

Interesting supply dynamics in play in coming months. pic.twitter.com/0ZNC52YbAH

— Mindao (@mindaoyang) January 23, 2024

Significantly, numerous Mt. Gox creditors have reported receiving these new emails, indicating progress in the long-awaited repayment process. However, the email also highlights the importance of maintaining active and verified accounts on the designated exchanges to ensure the receipt of repayments.

In a related development, CryptoQuant founder Ki Young Ju addressed recent market movements, noting, “Old Bitcoin is moving. Someone(s) broke an old piggy bank and distributed its contents, likely through OTC deals.” However, he clarified that these movements are unrelated to Mt. Gox, stating, “They haven’t moved their coins. MtGox sent Japanese Yen-denominated refunds to users through PayPal, not Bitcoin.”

They haven’t moved their coins. MtGox sent Japanese Yen-denominated refunds to users through PayPal, not Bitcoin.https://t.co/eKnDd23tcF pic.twitter.com/tJWvwEiX4x

— Ki Young Ju (@ki_young_ju) January 22, 2024

Estimates of the total Bitcoin to be released vary, with figures ranging from 142,000 BTC to 200,000 BTC. Additionally, the presence of 143,000 BCH and 69 billion Japanese yen under Mt. Gox’s control further compounds the situation’s complexity.

Related Reading: Crypto Expert Predicts Over 700,000 Bitcoin Sell-Off In 2024: Here’s Why

Founded in 2010, Mt. Gox was once the largest Bitcoin exchange in the world, handling approximately 70% of all BTC transactions before suffering a catastrophic security breach in 2014. The exchange lost 850,000 BTC in the hack, leading to one of the most significant bankruptcies in the crypto space.

As the crypto community braces for the potential market impact of this substantial release of funds, analysts are closely monitoring the situation, awaiting further details and confirmation from Mt. Gox. The next months are expected to be critical as the countdown to the potential release of at least 142,000 BTC begins, potentially having a significant impact on the Bitcoin price.

At press time, BTC traded at $38,880.

Bitcoin price
BTC price falls below $39,000, 1-day chart | Source: BTCUSD on TradingView.com
Featured image created with DALL·E, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jake Simmons

Jake Simmons

Follow

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

Full Profile

Related Posts

bitcoin btc btcusd crypto

Whales Dump 115,000 BTC in Largest Distribution Since 2022: Is a Crash Looming?

37 minutes ago
Bitcoin

Is Tether Dumping Its Massive Bitcoin Holdings? CEO Shares The Truth

2 hours ago
bitcoin trump powell

Fed Rate Cuts Incoming: Why Analysts Doubt Bitcoin’s Next Rally

3 hours ago
Bitcoin Futures On Binance Reach New Levels, Overtakes Global Real Estate Valuation

Bitcoin Futures On Binance Reach New Levels, Overtakes Global Real Estate Valuation

11 hours ago
Metaplanet Expands Bitcoin Treasury Past 20K BTC Worth Over $2.2B

Metaplanet Expands Bitcoin Treasury Past 20K BTC Worth Over $2.2B

12 hours ago
bitcoin-100k-traders-alerte

Bitcoin : 100 000 $ en ligne de mire, les traders en alerte

13 hours ago

Premium Sponsors

Press Releases

  • miner

    COME Mining cloud mining is becoming a new way to play with...

    4 hours ago
  • How ALL4 Mining Cloud Mining Unleashes XRP’s...

    4 hours ago
  • Domain Scams

    Scam Coinomize Domains: How to Spot and Stop Domain Scams

    6 hours ago
  • miner

    New hope for XRP holders: Switch strategies and earn $7,481...

    8 hours ago
  • miner

    ETF fever sweeps the market, BAY Miner cloud mining allows...

    9 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.