Cryptocurrency exchange Bitstamp announced on Wednesday (24th) that it has received Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH) from the Mt. Gox restructuring trustee, and will start on July 25th Distributions to Mt. Gox creditors who choose to receive assets through Bitstamp accounts.
According to Bitstamp's announcement , Mt. Gox creditors will have to wait up to a week to receive their payments due to security checks before the distribution. Bitstamp wrote:
Gox About $600.”
Information shared by on-chain data analyst Yu Jin shows that the wallet address marked as held by Mt. Gox once again transferred a large amount of Bitcoins to the Bitstamp address yesterday. According to statistics, the number of Bitcoins that Bitstamp will distribute is about 10,216, worth approximately $676 million.
Bitstamp is one of five exchanges participating in Mt. Gox’s restructuring plan. Other participating platforms include Kraken, BitGo, SBI VC Trade and Bitbank. The Kraken exchange alsoconfirmed yesterday that it had received assets from Mt. Gox and returned them to creditors. The Mt. Gox restructuring trustee last year set a deadline of October 31, 2024, to repay creditors.
At the same time as Bitstamp made the announcement, Bitcoin also began to experience a wave of decline, with a decline of approximately 3.8% in the past 12 hours. Bitcoin was trading at about $64,000 at press time.
The Bitstamp announcement stated that Mt. Gox was a cryptocurrency exchange based in Tokyo that operated from 2010 to 2014. As the only exchange older than Bitstamp, it was originally responsible for over 70% of Bitcoin trading at its peak. In February 2014, Mt. Gox suspended withdrawals after claiming to have discovered suspicious activity in its digital wallet, and the exchange declared bankruptcy shortly after.
