Thousands of BTC in the wild – MtGox will (finally) release its bitcoins

Finally the end of the tunnel? – The old trading platform MtGox did bankruptcy at the beginning of the year 2014after a gigantic hacking hundreds of thousands of bitcoins. Nevertheless, approximately 200,000 BTC could have been saved from the disaster. the endless waiting aggrieved customers of MtGox could take end in the month of January 2023.

MtGox customers have until January 10, 2023 to report

More 8 years after the final fall of MtGoxits users should finally review some of their precious bitcoins. Indeed, the Japanese judicial liquidators of the platform are about to launch the distribution of BTC provided by the rehabilitation plan.

Nobuaki Kobayashithe receiver in charge of the liquidation, has officially yearnotounce this October 6, 2022 that former clients of the crypto-exchange have until January 10, 2023last deadline, to register and select their method of compensation.

“(…) The Rehabilitation Trustee has launched a function allowing creditors to choose a repayment method and register beneficiary information, on the MTGOX online application filing system (…) via The deadline of choice and registration is January 10, 2023 (Japan time). Any creditor who wishes to receive reimbursement must make the choice and register on the system before this deadline. »

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Bitstamp among the possible exit routes of these bitcoins blocked since 2014

Even though no date is given for the beginning of the distribution of bitcoins held by the trustee of MtGox, we can reasonably imagine that it begins in the first trimester of the year 2023. Or even, from at the end of January next.

Following the announcement of the judicial liquidators, the cryptocurrency exchange platform bit stamp to announce that it would support the rehabilitation plan. Indeed, former MtGox customers will be able to choose to receive their long-awaited BTC on Bitstamp.

“Bitstamp is pleased to announce that we are supporting MtGox’s creditor rehabilitation process. (…)”

Twitter account @Bitstamp

The precise sum bitcoins soon to be released into the wild is not exactly known, but the estimates speak of 140,000 to 180,000 BTC. Even at the current low price, this represents a huge windfall of between $2.7 and $3.5 billion. We thus understand better that the crypto market is anxious about downside pressure on Bitcoin’s price, should former MtGox customers prove to be in a hurry to take their winningsafter 8 and a half years of waiting (and not far from +2000% of added value).

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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