U.Today – Former Mt. Gox CEO Mark Karpeles has broken his silence following the initiation of a 141,686 BTC refund from the infamous bankrupt exchange.
On July 5, 2024, Mt. Gox, which has been under scrutiny since its collapse in 2014, made a major transfer of 47,229 BTC, valued at $2.71 billion, according to Arkham Intelligence. This transfer included subsequent movements to and from several wallets, sparking fear and uncertainty in the community.
Responding to these developments, Mark Karpeles, former CEO of Mt. Gox, expressed relief that customers were finally receiving their payments after more than a decade of uncertainty.
Karpeles, known for overseeing the infamous exchange during its rise and fall, faced legal challenges after the exchange collapsed in 2014, resulting in the loss of over 850,000 BTC, including customer funds.
The news triggered significant market reactions, with the BTC price falling below $54,000 and rising above $2,900. Many attributed the market drop to expectations of increased selling pressure from the influx of cryptocurrencies distributed by Mt. Gox.
Arkham Intelligence also revealed that an additional 1,545 BTC, valued at nearly $85 million, was withdrawn from this wallet to a Bitbank account, a platform chosen by Mt. Gox management for payments. This development coincided with earlier announcements that the exchange would begin refunding users in Bitcoin and (BCH) in July 2024.
This article was originally published on U.Today
