Information Leaked From Mt. Gox Shows $318 Million Crypto Sell-Off On BitPoint Platform
Information that was leaked from the Mt. Gox exchange shows that the trustee reportedly sold billions of dollars in Bitcoin (BTC) and Bitcoin Cash (BCH) on the trading platform BitPoint. The information was released by goxdox.com, an Mt. Gox creditor campaign group.
According to this source, it is possible to see the legal proceedings related to Mt. Gox and what they have presented to the Tokyo District Court. Although the information seems to be incomplete, there is information of transactions at BitPoint, confirming that Nobuaki Kobayashi, the Mt. Gox trustee, sold thousands of BTC and BCH to repay creditors.
GoxDox commented on the matter:
“Unless BitPoint is being really generous, we’d wager the reason they are depositing billions JPY into the trustee’s bank account is because they were hired to sell the MtGox Estate’s BTC/BCH.”
The Mt. Gox exchange was hacked back in 2013/4 and thousands of Bitcoins went missing, affecting the whole cryptocurrency market and thousands of users around the world trading on the platform.
Since the exchange started to work in order to compensate users that lost the funds during the hack. However, this process has been lengthy and full of controversies. During 2017 and the beginning of 2018, several rumours spread regarding Kobayashi selling Bitcoin’s and affecting the price of the most popular digital asset.
Jesse Powell, the CEO of the U.S.-based exchange Kraken mentioned that their platform received requests to sell several thousands of BTC and BCH coins. However, the platform did not accept the proposal.
As it is possible to see in these documents, the amount involved was $318.5 million, equal to 35 billion yen. The Mt. Gox hack was the largest attack ever experienced by a crypto exchange in the virtual currency market.