In 2014, Mt. Gox exchange will begin to pay back 137 thousand of these Bitcoins to its users by the end of this month, as a result of the court decision.
One of the first important exchanges of the crypto money markets, Mt. Gox was founded in 2010 and until the big hack event in 2014, especially crypto money users in Asia. primarily preferred was in the stock market. As a result of the hack attack in 2014, 850 thousand Bitcoins stolen and the stock market went bankrupt. Losing thousands of users and millions of dollars The stock market has struggled with dozens of courts over the past 9 years and has sought ways to somehow recover the funds. In one of these court proceedings, Mt. Gox exchange 200,000 Bitcoins in a forgotten cold wallet It was determined that the Bitcoins were stolen and as a result of the court process, 137 thousand of them It was decided to distribute it to the victims.
Mt. Gox exchange law firm 6 July 2022 In the text of the “Information Regarding the Repayment Process” sent to the creditors on at the end of august It was stated that it will initiate the first refunds. In the light of the data we have, the average purchase price of thousands of Bitcoins belonging to users at the time the stock market was hacked. $200 to $800 We can say that level. Considering the current Bitcoin transaction price of 24 thousand dollars, approximately 137 thousand Bitcoins in question. Profitability around 7,000% (seven thousand percent) It is seen that the rate will be returned to the users.
Will It Create a Down Wave?
In these days when there are economic uncertainties both in the crypto money markets and on a global scale, these Bitcoins, which were taken back with great profitability rates, are by the owners. No reason not to sell. Nevertheless, it can be interpreted as a bit of exaggeration and unrealistic predictions that many commentators think that the unlocking of the said Bitcoins will have a huge bearish effect on the market.
Recently Luna (Terra) crisis during 80 thousand BitcoinsThe selling price is almost Dropped $13,000 and Mt. 137 thousand Bitcoins to be unlocked by Gox would lead to a much deeper crisis. Thinking may not be correct when the data is examined objectively. Because the Luna crisis was an unexpected problem and affected many crypto companies with a shock effect. Although this unknown shock wave created fear in the market and lowered prices, the Mt. Gox Bitcoins will be both previously known to the crypto community and unlocked these Bitcoins will not be linked to the liquidity of market maker companies. In addition, when looking at the daily Bitcoin transaction volume, it will be seen that The place of 137 thousand Bitcoins in daily volume is 8% includes a denominator. Even if opened in one go, this Mt. will have a very low volume of 8% pressure. Gox Bitcoins are most likely, according to the stock market lawyers’ statement. It is planned to be sent to users gradually, not all at once..
Finally, the pricing of a known date and event is usually buy expectation sell news form can be realized. In this case, in a late-August scenario where everyone expects a marked decline, Mt. After the Gox locks are opened, the possibility of an adverse movement on the markets should not be ignored.