Bitstamp exchange has received a transfer of Bitcoin (BTC) from defunct crypto exchange Mt. Gox and will commence the process of distributing it to creditors on Thursday. The exchange also holds Bitcoin Cash obtained from the Mt. Gox trustee.
This occurs ten years after the Bitcoin exchange crumbled due to a significant hacking event. Former users of the now-closed cryptocurrency exchange can now retrieve their digital possessions.
The exchange has announced that it would commence the distribution process on July 25, 2024. However, consumers are advised to exercise patience while the verification procedure is ongoing.
The exchange has also notified users in the UK that distribution for this group would be carried out through a distinct method. The price of Bitcoin remains above $66,000, and the process of repaying Mt. Gox creditors has commenced, exerting a significant downward influence on the BTC price.
Nevertheless, a considerable proportion of users have refrained from selling during the distribution, and experts speculate that this could enhance the likelihood of a price recovery for Bitcoin.
