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Mt. Gox Creditors Confirm Receipt of Bitcoin and Bitcoin Cash

After nearly 10 years of waiting, users suffered losses from the Mt. Gox finally received his Bitcoin and Bitcoin Cash.
Mt. Gox Creditors Receipt of Bitcoin and Bitcoin Cash

According to Reddit, some users have reported that their Bitbank accounts received BTC/BCH, and the amounts matched what was previously communicated to them.

Typically, this process takes about 14 days to complete. However, Bitbank processed the payments within just a few hours.

Bitbank is one of the exchanges supporting Mt Gox refunds. The refunds are not directly sent to Bitcoin holders. Instead, the trustee sends funds to five exchanges: Kraken, Bitstamp, SBI VC Trade, Bitbank, and Bitgo. Each of these exchanges has announced they will open the Bitcoin receiving gateway for their customers for up to 90 days after receiving the funds.

Mt. Gox, once the largest cryptocurrency exchange in the world, has officially begun refunding money to its customers. This is excellent news for many users who lost their cryptocurrencies almost a decade ago.
Mt. Gox’s announcement coincides with their on-chain activities.


Related news: Mt. Gox Begins Payments in Bitcoin and Bitcoin Cash


According to Arkham, at 11:19, the Mt. Gox-owned wallet 1JbezD…KLAPs6 transferred 1,157.1 BTC (around $63.57 million) to a new address, bc1qkjc…2ug68h. Additionally, 1,544.67 BTC (around $84.87 million) was sent to Bitbank’s hot wallet through the address 1PKGGM…iszwzV.

On the same day, another Mt. Gox-related address, 1L7Xbx…6onk, transferred 47,200 BTC (around $2.7 billion) to two different addresses: 44,500 BTC to 16ArP3…VqdF, and 2,700 BTC to its internal address, 1JbezD…APs6.

Recently, another Mt. Gox address starting with “1HeHLv” transferred 47,228 BTC to the address starting with 1L7XbxQ.

These movements have caused concern in the community, especially as Mt. Gox is preparing to repay its users $9 billion in Bitcoin. This led to Bitcoin’s price dropping to $53,600 before slightly recovering to $54,700.

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