Mt. Gox, the infamous bitcoin exchange that suffered a major hack over a decade ago, has reportedly finally begun the process of pay your clients for the 850,000 bitcoin lost. tIts news has shocked the market, causing a momentary interruption in the upward trend in the price of bitcoin.
As a result of these developments, the current price of bitcoin stands at $42,625, with a 24-hour trading volume of $22,655,498,534.64.
However, the market has witnessed a -2.40% decrease in the last 24 hours, reflecting the uncertainty caused by the Mt. Gox payment process.
bitcoin Price Plunges Amid Growing Speculation
Reports from participants in the solvenciamtgoxin The subreddit group indicates that some people have already received payments in yen through PayPal.
However, those who opted for cash deposits into their bank accounts have not reported any inflows so far. Several users have shared notifications they received, alerting them to a system error that resulted in double payments.
These users are now supposedly being asked to return any excess funds to the Rehabilitation Trustee as soon as possible.
Additionally, the Rehabilitation Trustee has contacted affected individuals refund the amount transferred in error, which was the second transfer, since the first transfer was the official refund.
Users have been instructed to use PayPal's “Refund” feature to return funds to the Rehabilitation Trustee account. Alternatively, they can transfer an equivalent amount of money to the Rehabilitation Trustee's PayPal account if the “Refund” feature is not available.
Although some users have btc-v0-an28ynanrm8c1.png%3Fwidth%3D2372%26format%3Dpng%26auto%3Dwebp%26s%3D4274dcc2b7e102ac7f4ca400b4b5ab2ca96c8025″ target=”_blank” rel=”nofollow”>confirmed Upon receiving your refunds, there is uncertainty about the timing of bitcoin refunds or whether they are taking effect.
No bitcoin outflows detected from Mt. Gox?
In a recent statement By CryptoQuant co-founder and CEO Ki Young Ju, it was confirmed that “no bitcoin outflows have been recorded from the Mt. Gox Trustee wallet at this time.”
Furthermore, the administrator responsible for managing the rehabilitation procedures of Mt. Gox, the now-defunct bitcoin exchange, has yet to provide any official statement which explains the absence of wallet exits.
Consequently, the cryptocurrency community is on edge and eagerly awaiting updates on the timing and method of bitcoin refunds.
Once again, the cryptocurrency community has been hit by another episode of misinformation surrounding the Mt. Gox exchange's long-awaited payout to its clients.
The dissemination of this news has had a notable impact on market sentiment and has caused volatility in the price of bitcoin. The future timeline and potential effects of the exchange repayment, expected in 2024, remain uncertain.
Featured image from Shutterstock, chart from TradingView.com
Disclaimer: The article is provided for educational purposes only. It does not represent NewsBTC's views on whether to buy, sell or hold investments, and investing naturally carries risks. It is recommended that you conduct your own research before making any investment decisions. Use the information provided on this website at your own risk.
