As rumors a good approaching Bitcoin (BTC) dump float on Twitter, Mt. Gox creditors required to Twitter to state that all of these are false, with one highlighting the defunct exchange’s repayment product is still not live yet.
Inside a Twitter thread, Eric Wall introduced themself like a Mt. Gox creditor and confirmed there wouldn’t be a 137,000 BTC dump, countering rumors going swimming on social networking. Based on Wall, the exchange hasn’t yet completed the infrastructure required to commence the repayment.
Additionally, Wall also stated that right now, individuals are still not able to join up where you can send the Bitcoin and Bitcoin Cash (BCH) payments. The creditor also believes that payments should occur in a variety of installments, dismissing the fears that a large number of Bitcoin is going to be offered all at one time, dumping the crypto’s cost.
Wall also noted the crypto exchange hasn’t yet provided a period on if this will proceed using its repayment process. After this, the creditor also contended that whether or not the BTC were released, he’d rather buy than sell due to the market conditions.
Eight Global Chief executive officer Michaël van de Poppe also highlighted the distribution is going to be delayed. He tweeted:
BREAKING:
Mt. Gox won’t be releasing the #Bitcoin, and can delay the distribution, once more.
The whole crypto space was stressing out heavily about this, but unwarranted.
— Michaël van de Poppe (@CryptoMichNL) August 28, 2022
Marshall Hayner, another Mt. Gox creditor, also confirmed that they’re not near to receiving their BTC. Hayner also assured the city that lots of people who definitely are getting the car loan payments in the exchange don’t plan to sell their Bitcoin.
Related: Bitcoin risks worst August since 2015 as hodlers brace for ‘Septembear’
In This summer, Nobuaki Kobayashi, the hired rehabilitation trustee within the Mt. Gox rehabilitation plan, confirmed the exchange is preparing to repay its creditors. Within the official document released, the exchange noted the customers will can receive payments in BTC or BCH. The rehabilitation plan was initially approved in 2021. However, in the 850,000 BTC owed, the exchange has only 150,000 BTC to pay for its creditors.
