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Called the Bitcoin nightmare, Mt. Gox incident has come to an end and Mt.Gox will start Bitcoin and Bitcoin Cash (BCH) refunds.
Mt.Gox board of trustees said in a statement in recent weeks that refunds will begin to be made from the beginning of July.
The long-awaited moment has arrived and Mt.Gox made test transfers of small amounts in several wallets just before the $9 billion Bitcoin payment was made.
According to Arkham data, approximately $24 worth of BTC was moved to Bitbank’s hot wallet in small transactions from Mt.Gox wallets.
While it is evaluated whether these transactions are merely a test operation in preparation for the transportation of larger quantities, the reason behind the transactions remains unclear.
Bitbank is one of the listed exchanges where Mt Gox refunds will take place. Because refunds will not be made directly to Bitcoin owners.
Instead, Mt.Gox trustees will send BTC/BCH to five exchanges: Kraken, Bitstamp, SBI VC Trade, Bitbank and Bitgo. These exchanges will also send the funds to customers within varying periods of up to 90 days after receiving them.
Bitcoin price has fallen by more than 18% in the last month due to possible selling pressure ahead of the repayment of Mt Gox funds to creditors. BTC also fell below $57,000 today for the first time since early May.
Bitcoin, which has decreased by 5.5% in the last 24 hours, continues to be traded at $ 56,955 at the time of writing.
Mt. Gox wallet holds 141,687K Bitcoins, worth $8 billion at current prices.
*This is not investment advice.
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