Mt. Gox, the defunct cryptocurrency exchange, is set to begin distributing payments in Bitcoin (BTC) and Bitcoin Cash (BCH) starting next month, according to a recent statement. The notice, released on June 24 by rehabilitation curator Nobuaki Kobayashi, stated that the administrator is currently in the preparation phase for making these payments under the Rehabilitation Plan, with payments expected to commence in early July.
Kobayashi emphasized in the notice that the debtor had shown dedication towards ensuring secure, reliable, and compatible repayment arrangements. As a result, payments will be initiated in the order of cryptocurrency exchanges with which the Rehabilitation Administrator has completed the necessary exchange and information confirmation.
It is noteworthy that last month, Mt. Gox made headlines in the cryptocurrency market by reportedly transferring at least 42,830 Bitcoin from their cold wallets after five years of dormancy. These transfers, which began on May 28, were conducted in multiple transactions to an unknown address. Subsequently, the bankrupt exchange carried out additional transactions, moving at least $9.6 billion worth of Bitcoin tokens to an unknown address.
At the time of this article’s publication, the price of Bitcoin was quoted at $61,407.48, representing a 4.4% increase in the last 24 hours.
Disclaimer: The views and opinions expressed in this article, as well as those of any individuals mentioned, are solely for informational purposes and do not constitute financial or investment advice. Investing or trading in cryptocurrencies carries the risk of financial loss.
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