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Former Mt. Gox CEO Breaks Silence on 141,686 Bitcoin Refund by U.Today
U.Today – Former Mt. Gox CEO Mark Karpeles has broken his silence following the infamously bankrupt exchange’s initiation of a 141,686 BTC refund.
On July 5, 2024, Mt. Gox, which has been under scrutiny since its collapse in 2014, made a significant transfer of 47,229 BTC, valued at $2.71 billion, according to Arkham Intelligence. This transfer included subsequent movements to and from multiple wallets, causing fear and uncertainty in the community.
In response to these events, Mark Karpeles, former CEO of Mt. Gox, expressed relief that customers had finally received their money 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 BTC price dropping below $54,000 and rising above $2,900. Many attributed the market downturn to expectations of increased selling pressure from the influx of cryptocurrency distributed by Mt. Gox.
Arkham Intelligence also revealed that another 1,545 BTC, worth nearly $85 million, were withdrawn from this wallet and transferred to a Bitbank account, a platform chosen by Mt. Gox management for payments. This development coincided with previous announcements that the exchange would begin refunding users in Bitcoin and (BCH) in July 2024.