Friday, November 25, 2022
HomeCrypto140,000 MtGox bitcoins about to be released?

140,000 MtGox bitcoins about to be released?

Did you have Bitcoins on the MtGox platform when it disappeared? Despite your best efforts, can’t find any solace in looking at the lousy NFT you were offered “as compensation” a few months ago? Rejoice! A document that may bring good news has just appeared on the official website for victims.

MtGox, Original Sin of Bitcoin History

If the mere mention of the term “MtGox” doesn’t send a shiver down your spine, it’s probably because you discovered the subject Bitcoin and crypto after February 25, 2014.

It was on this date that what was then the main global bitcoin exchange platform went into 404 mode and with it the trifle of 850,000 bitcoins that its suddenly unfortunate users had entrusted to the good care of Mark – Magical Tux – Karpeles.

A picture is sometimes worth 1000 evils

More than 8 years, several trials and thousands of pages of proceedings later, the official site serving as an information platform for victims has just made available a “withdrawal form” which will make the eyes of a few courageous people who will have been able to wait until now (and not be seduced by the proposals to buy back debts at a low price issued by certain opportunists).

MtGox Bitcoin Funds Claim Form

Accompanied by a legal document posted online a few hours ago, this form allows victims to make known their preferences regarding the method of withdrawing their funds.

We will recall in passing that nearly 140,000 bitcoins (and up to 180,000 according to some sources) have since the disaster been kept in sequestration by the office in charge of appeals and the file. Bitcoins which could therefore be released soon, even if it should be noted that the form is very imprecise both on the amounts concerned by this hypothetical withdrawal, as well as on its form (crypto, or fiduciary currency).

Is the release of a mass of bitcoins stamped “MtGox” imminent and does it risk if necessary to falter the market (which really does not need that these days)?

If nothing is to be ruled out, most observers however agree on the fact that the said market has already demonstrated in the past its ability to absorb similar costs. More importantly perhaps, it is doubtful that the floodgates would suddenly open wide, seeing tens of thousands of bitcoins on sale. We can more likely expect a gradual and dropper release of these bitcoins that have been bottled up for years. MtGox has definitely not finished haunting the nights of its former customers.

Water has flowed under the bridges, blocks have succeeded each other on the Bitcoin blockchain and we are now entitled to hope for a happy outcome for the victims of the time. For your part, prepare for the future by getting your first satoshis on FTX, the benchmark crypto platform (affiliate link).

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