Bitcoin Price Faces Pressure as Mt. Gox Begins $9.4B Repayment. Bitcoin (BTC), the world’s leading cryptocurrency has come under intense scrutiny as Mt.Gox commences a $9.4 billion repayment to investors. According to reports, 137,890 BTC coins were moved out of wallets belonging to Mt.Gox to creditors. The movement of the large amount of BTC raises concerns about a potential sell-off that could drive down the price of Bitcoin. As a reminder, Mt.Gox was one of the largest Bitcoin exchanges before it was hacked in 2014. Following reports from Crypto News Flash, the exchange processed 70% of all Bitcoin transactions worldwide at the time. Following the hack, it reported 840,000 BTC in stolen funds.
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Mt. Gox, once the largest Bitcoin exchange in the world, has recently commenced a $9.4 billion repayment to its creditors . This repayment involves the transfer of over 140,000 Bitcoin (BTC) to an unknown address in multiple transactions . The repayment is part of a plan to address the losses suffered by creditors after Mt. Gox's collapse in 2014 due to a hack
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