News and Analytics

0

Update on Mt. Gox BTC Refund Process

Jul 5, 2024

The ongoing Mt. Gox saga witnessed former CEO Mark Karpeles breaking his silence as the exchange began a substantial 141,686 BTC refund process. On July 5, 2024, a transfer involving 47,229 BTC valued at $2.71 billion took place at Mt. Gox, triggering movements across various wallets and stirring community concerns. Mark Karpeles expressed relief at customers finally collecting their Bitcoin after a decade of uncertainty stemming from Mt. Gox's catastrophic collapse in 2014, resulting in the loss of over 850,000 BTC. The news of Bitcoin refunds starting at Mt. Gox led to significant market reactions, with BTC prices falling below $54,000 and Ethereum surpassing $2,900, as market participants anticipated increased selling pressure due to Mt. Gox's cryptocurrency dispersal. Concurrently, Arkham Intelligence revealed a withdrawal of 1,545 BTC, valued at almost $85 million, to a Bitbank account as part of Mt. Gox's refund initiative involving Bitcoin and Bitcoin Cash (BCH) repayments.

Comments

Latest analytics

The Best platforms...

The Best platforms for Cryptocurrency analysis

The Intersection...

The Intersection of AI and Cryptocurrency: Transforming...

Show more

Latest Dapp Articles

Show more

You may also like