With rumours around upcoming Bitcoin (BTC) dump happening on Twitter, Mt Gox creditors used Twitter to say these statements don’t have any accuracy in them, with one emphasising that the defunct exchange’s repayment system is yet to be live, as stated by Cointelegraph.
According to Cointelegraph, through a Twitter thread, Eric Wall introduced himself as a Mt Gox creditor and cleared that there would not be a 137,000 BTC dump to counter social media rumours. Data from Wall stated that the exchanges has not yet completed the infrastructure necessary to commence the payment. Moreover, Wall emphasised that people are unable to understand regarding where to send Bitcoin and Bitcoin Cash (BCH) payments. The creditor is of the opinion that payments should take place in installments, to eliminate fear around thousands of Bitcoin being sold at once to dump the cryptocurrency’s price. Wall also spoke on the cryptocurrency exchange still to provide a timeline as to when it will go ahead with the repayment process. Post this, the creditor made the point about selling Bitcoin due to current market conditions. “Mt Gox will not be releasing the Bitcoin, and will delay the distribution, once again. The entire crypto space was stressing out on this, but unwarranted,” Michael van de Poppe, CEO, Eight Global, said.
Moreover, Cointelegraph noted that Marshall Hayner, another Mt Gox creditor, confirmed about not being close to receiving their BTC, while assuring the community that people will be getting their repayments from the exchange. In July, Nobuaki Kobayashi, the rehabilitation trustee in the Mt Gox rehabilitation plan, made it clear that the exchange is making preparations for paying back its creditors. Through an official document, the exchange mentioned that account holders will have the option to get payments in BTC or BCH. While the rehabilitation plan got approved in 2021, from the 850,000 owed, the exchange has deposits worth 150,000 BTC to pay back to its creditors.
(With insights from Cointelegraph)
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