Panic among Bitcoin traders starts, as Mt.Gox started repayment
Many Mt.Gox creditors reported that they received their funds from the Mt.Gox trustee in Japanese Yen via PayPal.
Mt.gox was a popular Bitcoin exchange which went bankrupt in early 2014 following a hacking incident in which the exchange lost nearly 800,000 Bitcoins. Later investigations found that the exchange’s executives were involved in money laundering and also they faced punishment accordingly.
As we reported, just a few days ago, Mt.Gox website dashboard showed that “the repayment funds will be shown after payment release”. At the time, many people considered that repayment would start within a few days or weeks.
Today some Mt.Gox creditors confirmed that they received their funds from the Mt.Gox exchange trustee, as a part of the rehabilitation plan after 10 years.
One of the Reddit users wrote that he received his initial payment in Japanese currency Yen via PayPal. He also said that he supposed that it was some kind of suspicious actor behind the payment but he found that it was a legit payment from Mt.Gox.
Similar to this Reddit user, many other people also confirmed that they received their money from Mt.Gox and also wished other creditors will receive their money soon, just like him.
Some Mt.Gox creditors claimed that they didn’t received the exact amount of money shown on the Mt.Gox platform but some are happy with the small amount because they think that they at least sent the majority of the money that they lost.
Following the reports related to Mt.Gox repayment news, the trade price of Bitcoin crashed by 2%
The majority of Bitcoin investors believe that Mt.Gox is selling the amount of Bitcoins held to pay the Mt.Gox creditors.
Now it will be interesting to see whether this good news for Mt.Gox creditors is going to bring a big dump in the trade price of Bitcoin or will be ignored because of the bull sentiments.
Read also: Veteran trader predicts big dump for Bitcoin is coming
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