Monday, October 27, 2025

Mt. Gox Offloading 137,000 Bitcoin To The Market Is Fake, But Its Effect On Price Was Real

Amid the rumors of Mt. Gox planning to dump the payout to its creditors in one giant 137,000-bitcoin offload, one of the creditors disputed the story as misinformation.

Eric Wall, who identified himself as a creditor, dispelled any rumor that the Tokyo-based digital exchange will be distributing its payments in bulk soon. He added that the repayment system is not yet in place and the payments will occur in tranches instead.

Wall wasn’t the only one refuting the rumor of the Mt. Gox offload dump.

The appointed trustee to handle the rehabilitation plan for Mt. Gox confirmed in July that the exchange is working on paying back its creditors. From the 850,000 bitcoin owed, the exchange only has 150,000 bitcoin to pay its creditors–either in bitcoin or bitcoin cash equivalent.

While the rumor was figured to be false, it had a real effect on bitcoin prices as fears of flooding the market followed the false info. The digital asset slumped back below the US$20,000-mark following the news.


Information for this briefing was found via Coin Telegraph and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

One Response

  1. The effect on price was severe. Do you think, Bitcoin will recover this year? Some experts are predicting it will raise up to 40K one this year. What do you think.

Video Articles

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

This Is Why the Gold Run Is Not Done! | Peter Marrone – Allied Gold

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

El Salvador Installs 200 Bitcoin ATMs After Becoming First Country to Approve the Crypto as Legal Tender

Back in June, El Salvador announced that it would grant bitcoin legal tender status, in...

Thursday, August 26, 2021, 08:00:46 AM

Marathon Digital Mines 3,197 Bitcoin In 2021, Projects 23.3 EH/s Hashrate By 2023

Marathon Digital Holdings (Nasdaq: MARA) announced on Monday its production updates, highlighting production of 3,197...

Tuesday, January 4, 2022, 11:42:00 AM

Bitcoin At A Two-Month Low Following SpaceX Selloff, Liquidations, Regulatory Issues

Bitcoin witnessed a rapid decline of 7% within a mere 20 minutes on Thursday, momentarily...

Friday, August 18, 2023, 09:33:42 AM

Hive Blockchain Exceeds 1 Exahash Per Second In Bitcoin Mining

As it had announced earlier this month, HIVE Blockchain Technologies Ltd. (TSXV: HIVE) shared that...

Friday, August 27, 2021, 07:33:00 AM

DigiMax Reports Early Results Of Crypto Price Trend Predictor Tool

DigiMax Global (CSE: DIGI) this morning provided an update in relation to its crypto-related assets....

Monday, June 28, 2021, 08:35:28 AM