A copy of the bank book from the exchange’s trustee reportedly made it out of Tokyo District Court
The trustee for the rehabilitation proceedings of defunct cryptocurrency exchange Mt. Gox reportedly sold large amounts of Bitcoin (BTC) and Bitcoin Cash (BCH) on trading platform BitPoint. Cointelegraph Japan reported on the development on Feb. 5, citing leaked data.
An unidentified party reportedly sourced information from the legal proceedings involving Mt. Gox at the Tokyo District Court and showed it to Mt. Gox creditor campaign group GoxDox.com.
The information, which appears to be incomplete scans of transactions at BitPoint, allegedly confirms that the Mt. Gox trustee, Nobuaki Kobayashi, sold coins on a major exchange to repay creditors.
“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,” GoxDox writes.
The process of compensating users who lost funds in Mt. Gox’s giant hack in 2014 has been lengthy and fraught with controversy.
Discussing the phenomenon of what is referred to as the “Dumpening,” well-known cryptocurrency figures noted that Kobayashi or an associate may have openly sought to use mainstream sales channels from the start.
Jesse Powell, CEO of United States exchange Kraken, previously said his platform had received a request about methods of large scale selling, something GoxDox now also references. However, Powell noted that Kraken’s suggestions for selling coins in an auction or with an OTC broker were not acted on.
The total amount involved from the leaked documents is just under 35 billion yen ($318.5 million).
Last week, more revelations from the compensation process showed that one Mt. Gox creditor, CoinLab, had made a claim on funds worth $16 billion.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.