{"id":567030,"date":"2023-12-26T23:00:08","date_gmt":"2023-12-26T23:00:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=567030"},"modified":"2024-06-11T09:13:54","modified_gmt":"2024-06-11T09:13:54","slug":"mt-gox-repayment-rumors-cause-bitcoin-price-to-drop-to-42000-market-in-turmoil","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/mt-gox-repayment-rumors-cause-bitcoin-price-to-drop-to-42000-market-in-turmoil\/","title":{"rendered":"Mt. Gox Repayment Rumors Cause Bitcoin Price To Drop To $42,000, Market In Turmoil"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Mt. Gox, the infamous Bitcoin exchange that suffered a major hack over a decade ago, has allegedly finally begun the process of<\/span><a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-sees-sudden-boost-amid-mt-gox-rumors-but-qcp-capital-targets-22000\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\"> repaying its customers<\/span><\/a><span style=\"font-weight: 400\"> for the 850,000 lost Bitcoin. T<\/span><span style=\"font-weight: 400\">his news has sent shockwaves through the market, causing a momentary disruption in the Bitcoin price uptrend.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As a result of these developments, the current price of Bitcoin stands at $42,625, with a 24-hour trading volume of $22,655,498,534.64.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the market has witnessed a<\/span><a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-unveiled-trail-q4-tumble-etf-battles-mt-gox-drama-and-economic-shivers-await\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\"> -2.40% decline<\/span><\/a><span style=\"font-weight: 400\"> in the past 24 hours, reflecting the uncertainty caused by the Mt. Gox repayment proceedings.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitcoin Price Plunges Amidst Mounting Speculation<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Reports from participants in the <\/span><a href=\"https:\/\/www.reddit.com\/r\/mtgoxinsolvency\/?rdt=35751\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">mtgoxinsolvency <\/span><\/a><span style=\"font-weight: 400\">subreddit group indicate that some individuals have already received payouts in yen via PayPal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, those who opted for cash deposits into their bank accounts have not reported any inflows as of yet. Several users have shared notifications they received, alerting them to a system error that resulted in double payments.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">These users are now allegedly being requested to return the excess funds to the Rehabilitation Trustee promptly.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, the Rehabilitation Trustee has reached out to <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/key-week-ahead-for-bitcoin-as-mt-gox-payments-approach-will-btc-hold-above-22000\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">affected individuals<\/span><\/a><span style=\"font-weight: 400\"> to refund the mistakenly transferred amount, which was the second transfer, as the first transfer was the official repayment.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ethereum-balancing-act-at-2300-scaling-the-heights-or-facing-a-looming-drop\/\" target=\"_blank\" rel=\"noopener \">Ethereum: Balancing Act At $2,300 \u2013 Scaling The Heights Or Facing A Looming Drop?<\/a><\/div>\n<figure id=\"attachment_567035\" aria-describedby=\"caption-attachment-567035\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-567035\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Screenshot_3.jpg?w=860&#038;resize=860%2C423\" alt=\"Bitcoin price \" width=\"860\" height=\"423\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Screenshot_3.jpg?w=908 908w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Screenshot_3.jpg?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Screenshot_3.jpg?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Screenshot_3.jpg?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Screenshot_3.jpg?w=750 750w\" sizes=\"(max-width: 860px) 100vw, 860px\"><figcaption id=\"caption-attachment-567035\" class=\"wp-caption-text\">Alleged Mt. Gox repayment e-mail to users. Source: <a href=\"https:\/\/www.reddit.com\/media?url=https%3A%2F%2Fpreview.redd.it%2Fi-also-just-got-paid-see-the-emails-attached-will-btc-v0-an28ynanrm8c1.png%3Fwidth%3D2372%26format%3Dpng%26auto%3Dwebp%26s%3D4274dcc2b7e102ac7f4ca400b4b5ab2ca96c8025\" target=\"_blank\" rel=\"noopener nofollow\">mtgoxinsolvency group<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Users have been instructed to use PayPal&#8217;s &#8220;Refund&#8221; feature to return the funds to the Rehabilitation Trustee&#8217;s account. Alternatively, they can transfer an equivalent amount of money to the Rehabilitation Trustee&#8217;s PayPal account if the &#8220;Refund&#8221; feature is unavailable.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While some users have <\/span><a href=\"https:\/\/www.reddit.com\/media?url=https%3A%2F%2Fpreview.redd.it%2Fi-also-just-got-paid-see-the-emails-attached-will-btc-v0-an28ynanrm8c1.png%3Fwidth%3D2372%26format%3Dpng%26auto%3Dwebp%26s%3D4274dcc2b7e102ac7f4ca400b4b5ab2ca96c8025\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">confirmed <\/span><\/a><span style=\"font-weight: 400\">receiving their repayments, there is uncertainty surrounding the timing of Bitcoin reimbursements or if they are taking effect.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">No Bitcoin Outflows Detected From Mt. Gox?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In a recent <\/span><a href=\"https:\/\/x.com\/ki_young_ju\/status\/88520399?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">statement <\/span><\/a><span style=\"font-weight: 400\">by CryptoQuant co-founder and CEO, Ki Young Ju, it has been confirmed that &#8220;no Bitcoin outflows have been recorded from the Mt. Gox Trustee wallet at this time.&#8221;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, the trustee responsible for managing the rehabilitation proceedings of Mt. Gox, the now-defunct Bitcoin exchange, has yet to provide<\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/mt-gox-payout-postponed-bitcoin-price\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\"> any official statements<\/span><\/a><span style=\"font-weight: 400\"> explaining the absence of outflows from the wallet.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Consequently, the cryptocurrency community finds itself on edge, eagerly awaiting updates regarding the timing and method of Bitcoin reimbursements.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/altcoin\/worldcoin-bullish-breakout-analyst-predict-80-rally\/\" target=\"_blank\" rel=\"noopener \">Worldcoin Shows Bullish Breakout, Analyst Predicts 80% Rally<\/a><\/div>\n<p><span style=\"font-weight: 400\">Once again, the cryptocurrency community has been hit by another bout of misinformation surrounding the long-awaited Mt. Gox exchange repayment to its customers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The spread of this news has had a<\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/will-mt-gox-release-the-140k-btc-on-january-2023-repayment-methods-revealed\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\"> notable impact<\/span><\/a><span style=\"font-weight: 400\"> on market sentiment and has stirred volatility in the Bitcoin price. The future timeline and potential effects of the exchange&#8217;s repayment, slated for 2024, remain uncertain.<\/span><\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/wPElQ19z\/\" alt=\"Bitcoin price \" width=\"1814\" height=\"858\"><figcaption class=\"wp-caption-text\">The 1-day chart shows BTC&#8217;s price drop. Source:<a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\"> BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from Shutterstock, chart from TradingView.com\u00a0\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mt. Gox, the infamous Bitcoin exchange that suffered a major hack over a decade ago, has allegedly finally begun the process of repaying its customers for the 850,000 lost Bitcoin. This news has sent shockwaves through the market, causing a momentary disruption in the Bitcoin price uptrend. As a result of these developments, the current price of Bitcoin stands at $42,625, with a 24-hour trading volume of $22,655,498,534.64.\u00a0 However, the market has witnessed a -2.40% decline in the past 24 hours, reflecting the uncertainty caused by the Mt. Gox repayment proceedings. Bitcoin Price Plunges Amidst Mounting Speculation Reports from participants in the mtgoxinsolvency subreddit group indicate that some individuals have already received payouts in yen via PayPal.\u00a0 However, those who opted for cash deposits into their bank accounts have not reported any inflows as of yet. Several users have shared notifications they received, alerting them to a system error that resulted in double payments.\u00a0 These users are now allegedly being requested to return the excess funds to the Rehabilitation Trustee promptly. Moreover, the Rehabilitation Trustee has reached out to affected individuals to refund the mistakenly transferred amount, which was the second transfer, as the first transfer was the official repayment.\u00a0 Related Reading: Ethereum: Balancing Act At $2,300 \u2013 Scaling The Heights Or Facing A Looming Drop? Users have been instructed to use PayPal&#8217;s &#8220;Refund&#8221; feature to return the funds to the Rehabilitation Trustee&#8217;s account. Alternatively, they can transfer an equivalent amount of money to the Rehabilitation Trustee&#8217;s PayPal account if the &#8220;Refund&#8221; feature is unavailable. While some users have confirmed receiving their repayments, there is uncertainty surrounding the timing of Bitcoin reimbursements or if they are taking effect. No Bitcoin Outflows Detected From Mt. Gox? In a recent statement by CryptoQuant co-founder and CEO, Ki Young Ju, it has been confirmed that &#8220;no Bitcoin outflows have been recorded from the Mt. Gox Trustee wallet at this time.&#8221;\u00a0 Furthermore, the trustee responsible for managing the rehabilitation proceedings of Mt. Gox, the now-defunct Bitcoin exchange, has yet to provide any official statements explaining the absence of outflows from the wallet.\u00a0 Consequently, the cryptocurrency community finds itself on edge, eagerly awaiting updates regarding the timing and method of Bitcoin reimbursements. Related Reading: Worldcoin Shows Bullish Breakout, Analyst Predicts 80% Rally Once again, the cryptocurrency community has been hit by another bout of misinformation surrounding the long-awaited Mt. Gox exchange repayment to its customers.\u00a0 The spread of this news has had a notable impact on market sentiment and has stirred volatility in the Bitcoin price. The future timeline and potential effects of the exchange&#8217;s repayment, slated for 2024, remain uncertain. Featured image from Shutterstock, chart from TradingView.com\u00a0\u00a0<\/p>\n","protected":false},"author":589,"featured_media":567033,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[652,656,679,6047,680,681,7434,85532,13246,684,6048,1144,8390,78790,6217,5582,3067,3068,90990,86760,3070,5856],"class_list":["post-567030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-mt-gox","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-action","tag-bitcoin-price-analysis","tag-bitcoin-price-bias","tag-bitcoin-price-daily-chart","tag-bitcoin-price-decline","tag-bitcoin-price-dip","tag-bitcoin-price-drop","tag-bitcoin-price-fall","tag-btcusd","tag-btcusd-price","tag-btcusdt","tag-latest-bitcoin-news","tag-mt-gox-bankruptcy","tag-mt-gox-hack","tag-mt-gox-investigation","tag-mt-gox-news","tag-mt-gox-repayment","tag-mt-gox-scandal","tag-newsbtc-bitcoin-news"],"acf":[],"yoast_head":"\n<title>Mt. Gox Repayment Rumors Cause Bitcoin Price To Drop To $42,000, Market In Turmoil<\/title>\n<meta name=\"description\" content=\"Mt. Gox has allegedly finally begun the process of repaying its customers for the 850,000 lost Bitcoin, affecting the Bitcoin price.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/mt-gox-repayment-rumors-cause-bitcoin-price-to-drop-to-42000-market-in-turmoil\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mt. Gox Repayment Rumors Cause Bitcoin Price To Drop To $42,000, Market In Turmoil\" \/>\n<meta property=\"og:description\" content=\"Mt. 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