Mt.Gox Trustee Sold $318 Million Cryptos on Japanese Exchange – GoxDox Report

By Tabassum
Published February 5, 2019 Updated February 5, 2019
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Mt.Gox Trustee Sold $318 Million Cryptos on Japanese Exchange – GoxDox Report

By Tabassum
Published February 5, 2019 Updated February 5, 2019

Although Mt.Gox is bankrupt since last four years, the controversies and talks on it didn’t finish yet. Recently leaked data reports that bankrupted Japanese bitcoin exchange, MtGox, reportedly sold $312 million cryptocurrencies through Japan’s BitPoint exchange, BitPoint.

Massive Amount of Crypto Sold on Japanese Exchange

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It was revealed on a website ‘goxdox.com’ by an unidentified party shares the screenshot of ‘transaction data’ captured from BitPoint exchange. The data on goxdox.com (Mt.Gox’s creditor campaign group) allegedly points out that Nobuaki Kobayashi, Mt. Gox trustee sold million dollars worth cryptocurrencies to repay to creditors.

Specifically, the bank book of trustee shows 34.3 billion yen was withdrawn which reportedly sourced to the ongoing legal proceedings of bankrupt exchange at the Tokyo District Court.

GoxDox mentioned that;

“Unless BitPoint is being really generous, we’d wager the reason they are depositing billions JPY into the trustee’s bank account is that they were hired to sell the MtGox Estate’s BTC/BCH,”

Notably, 60000 BTC and BCH crypto tokens were sold on open trading platform of Japan. Beside Bitpoint exchange, GoxDox also notes the response of Jesse Powell, CEO of Kraken Exchange. Prior to BitPoint, trustee approached Jesse Powell on a similar matter to sell a huge number of crypto tokens on Kraken. As a response, Powell advised to do it an auction or OTC (over the counter ) sale to avoid the risk of affecting market price. In a similar context, Goxdox writes;

“Instead of taking Kraken’s advice, the trustee decided to (1) sell, (2) not tell us how he sold, and (3) hire a different so-called “cryptocurrency expert” to sell the BTC/BCH,”

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Tabassum
562 Articles
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com

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