Mt. Gox has firmly denied rumors of a $10 billion sale of Bitcoin (BTC) and Bitcoin Cash (BCH), stating that no such transactions have taken place. The denial comes after reports of large money transfers from wallets connected to the exchange. In response, cryptocurrency expert Mark Karpelès assured the community that everything was under control and that the trustee was preparing for distribution by moving coins to different wallets. Karpelès stated, “No Bitcoin sales are planned for the near future.” The price of BTC has seen a decline of 1.90% in the last 24 hours and 4.21% over the past seven days, indicating a bearish trend.
Mt. Gox, once the world’s largest Bitcoin exchange until its collapse in 2014, is currently undergoing a lengthy rehabilitation process under the supervision of Nobuaki Kobayashi, the Rehabilitation Trustee. In a letter dated May 28, 2024, the bankrupt exchange addressed concerns and clarified that the trustee was preparing to reimburse cryptocurrency rehabilitation claims. Creditors have the option to receive repayment through a designated cryptocurrency exchange or through the proceeds from the sale of Bitcoin and Bitcoin Cash.
The exchange assured that no sales had been made at this time and that the Rehabilitation Trustee was securely handling the cryptocurrencies. The denial was in response to reports of significant movements of Bitcoin and Bitcoin Cash. According to Arkham Intelligence, 72 wallets linked to Mt. Gox transferred a total of 141,686 BTC in the last seven hours. The transactions were done in batches to a newly created wallet called 1Jbez, which now holds almost half of the attributed Mt. Gox Bitcoin. Some of the Bitcoin has already been distributed to other wallets.