TechFlow reported, citing K33 Research's Tuesday report, that Mt. Gox—the cryptocurrency exchange that went bankrupt following a 2014 hack—is preparing to distribute approximately 142,000 bitcoins worth around $9.5 billion and 143,000 BCH valued at $73 million to creditors, which could significantly impact digital asset prices.
The report noted that creditors have recently observed updates to BTC and BCH claims within the Mt. Gox claims system, suggesting distributions may occur earlier than previously expected.
If the cryptocurrency disbursement process follows a timeline similar to the fiat refund procedure, creditors could begin receiving their digital assets as early as next month. While large-scale selling by creditors is considered unlikely, this situation may prompt market participants to remain cautious and avoid taking on risk ahead of the event.
