Cryptocurrency exchange that collapsed 10 years ago is about to pay $9 billion in Bitcoin to customers

10 years ago, the collapse of the Mt.Gox cryptocurrency exchange shocked the world's investors. This incident had a significant impact on the price of virtual currencies, typically Bitcoin at that time. Until now, Mt.Gox, although it has stopped operating, is once again affecting the international cryptocurrency market.

Mt.Gox exchange collapsed 10 years ago is about to return $9 billion worth of Bitcoin to the market (Photo TL)

Specifically, according to CNBC, in the next few days, the Mt.Gox exchange will return all of its customers' cryptocurrency. This exchange will begin returning nearly $9 billion in cryptocurrency to tens of thousands of customers. The amount of bitcoin expected to be returned is about 141,000 bitcoin, equivalent to 0.7% of the total 19.7 million bitcoin in circulation.

The large amount of bitcoins returned by Mt. Gox to customers will increase the supply of this currency on the market. Many experts are concerned that this will push the price of bitcoin to its lowest level in the past few years.

Mt. Gox was shut down in 2014 after being hacked, causing massive losses. An estimated 950,000 bitcoins were stolen, equivalent to $59 billion at current prices.

In addition to bitcoin, the unit overseeing Mt. Gox's refund process said some bitcoin cash (BCH) will be returned to the exchange's 20,000 customers.

For the victims of this exchange, the return of virtual money is a good thing. But many experts predict that this event will have an impact on the exchange rate of Bitcoin. Last week, as soon as this information was released, Bitcoin fell to 59,000 USD, marking the biggest weekly decline in 2024.

Source: https://www.congluan.vn/san-tien-ao-sap-tu-10-nam-truoc-sap-tra-9-ty-usd-bitcoin-cho-khach-hang-post302193.html