Mt. Gox has denied reports of a $10 billion Bitcoin (BTC) and Bitcoin Cash (BCH) selloff, countering claims of massive fund transfers from its wallets. The denial follows allegations from Arkham Intelligence and Wu Blockchain about significant movements of BTC and BCH linked to the exchange.
Mt. Gox, once the largest Bitcoin exchange before its 2014 collapse, is under a rehabilitation process managed by Nobuaki Kobayashi. The exchange clarified that repayments to creditors are still being prepared and no cryptocurrency has been sold or transferred for this purpose.
Reports indicated that 141,686 BTC, worth around $9.36 billion, were moved, sparking fears of a market selloff. Despite this, Mt. Gox reassured that Bitcoin and Bitcoin Cash are being securely managed, urging stakeholders to remain patient.
Addressing concerns, the trustee emphasized the ongoing preparations for repayments, highlighting the strategic importance of maintaining market stability during the rehabilitation process.
