Mt.Gox has repaid 95,457 bitcoins, and all four repayments caused market declines
On July 31, 2024, the Mt. Gox exchange issued an announcement stating that the trustee repaid some creditors in the form of Bitcoin and Bitcoin Cash through some designated cryptocurrency exchanges on July 5, 16, 24 and 31 in accordance with the compensation plan. To date, more than 17,000 creditors have been repaid.
Image: Announcement released by Mt.Gox Exchange
According to data from search.ichainfo.com, Mt.Gox has repaid 95,457 of the total 141,619 bitcoins, with a total value of up to US$6.16 billion, accounting for 67% of the total.
Mt.Gox executed compensation through a total of five exchanges, namely Bitbank, SBI VC Trade, Kraken, Bitstamp, and BitGo. Since the first four exchanges had already received bitcoins from Mt.Gox before July 31, the address that received 33,963 bitcoins on that day was most likely BitGo.
Image: Distribution of Mt.Gox repayment funds
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In the compensation carried out by Mt.Gox Exchange in July, the virtual currency market was greatly affected. According to search.ichainfo.com, on the day of compensation and the next day, the price of Bitcoin fell to varying degrees, with a drop of between 4% and 8%.
In order to monitor the changes in funds in the remaining addresses of the Mt.Gox exchange, iChainfo Search launched the Mt.Gox special page (https://search.ichainfo.com/entity/mtgox), which displays the fund balances and latest transactions of Mt.Gox related addresses.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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