Mt. Gox Creditors Dismiss Rumors of Bitcoin Mass Dump

Mt. Gox creditor Eric Wall said that currently creditors are still unable to record where funds should be sent.

As rumors of an upcoming Bitcoin (BTC) dump floated on Twitter, Mt. Gox creditors took to Twitter to say it was all bogus, with one pointing out that the system refund of the old exchange is still not in effect.

In a Twitter thread, Eric Wall introduced himself as a creditor of Mt. Gox and confirmed that there would be no 137,000 BTC dump, countering rumors circulating on social media. According to Wall, the exchange has not yet completed the necessary infrastructure to begin redemption.

Additionally, Wall said that currently people still cannot register where to send Bitcoin and Bitcoin Cash (BCH) payments. The creditor also believes that payments should be made in installments, dispelling fears that thousands of Bitcoins will be sold at once, driving down the price of the crypto.

Wall also noted that the crypto exchange has yet to provide a timeline detailing when it will proceed with its refund process. Following this, the creditor argued that even if the BTC were released, they would rather buy than sell due to current market conditions.

Eight Global CEO Michaël van de Poppe has pointed out that distribution will be delayed. He tweeted:

BREAK:

Mt. Gox will not release #Bitcoin and will once again delay distribution.

The entire crypto space was heavily stressed about this, but unjustifiably.

Marshall Hayner, another Mt. Gox creditor, has confirmed that they are no closer to receiving...