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

Goxdox

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

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

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Specifically, the bank book of trustee shows 34.3 billion yen was withdrawn which reportedly sourced to the ongoing legal proceedings of bankrupt exchange at the Tokyo District Court.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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Mt.Gox Trustee Sold $318 Million Cryptos on Japanese Exchange – GoxDox Report
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Mt.Gox Trustee Sold $318 Million Cryptos on Japanese Exchange – GoxDox Report
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Although Mt.Gox is bankrupt now, the controversies and talks on this didn't close yet. Recently leaked data reports that bankrupted Japanese bitcoin exchange, MtGox, reportedly sold $312 million through Japan’s BitPoint exchange, BitPoint.
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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. Reach out to her at [email protected]