$312 Million In Mt Gox Crypto Supposedly Sold By Trustee Through BitPoint Exchange


While Mt.Gox bankruptcy may have only occurred four years ago, the controversies it left behind still linger in the crypto community as more information continues to be revealed. During a recently leaked data report stating that bankrupted Japanese bitcoin exchange, MtGox, reportedly sold over $312 million cryptocurrencies trough Japanese-based crypto exchange BitPoint.

A website by the name of Goxdox.com was the place that revealed this recent information as an unidentified part shared the screenshot of transaction data captured from BitPoint exchange. The data available on goxdox.com, which is Mt.Gox creditor campaign group, supposedly shows that Nobuaki Kobayashi, Mt.Gox trustee sold millions dollars worth of cryptocurrencies in order to repay creditors.

The bank book of trustee reveals a total of 34.4 billion yens worth withdrawn which is reportedly sourced to the ongoing legal proceedings of the bankrupted exchange held at the Tokyo District Court.

According to goddox.com

“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,”

Over 60000 BTC and BCH cryptocurrencies were sold on open trading platforms in Japan. Goddox also points out that besides BitPoint, CEO of Kraken exchange was a point of interest. Before using BitPoint, the trustee approached Jesse Powell in a similar fashion in order to sell a large volume of cryptocurrencies through Kraken. Powell responded by advising the trustee to do it in an auction or OTC (over the counter) sale in order to avoid any possible risk of affecting market price. Goddox further 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,”

As time goes by we continue to still see the kinds of effect Mt.Gox had on the crypto community as a whole and more pieces of the story continue to be revealed. Mt.Gox was one of the many reasons why exchanges and cryptocurrency, in general, came under huge scrutiny during its early years. Luckily the crypto reputation has recovered and continues to garner more positive reactions than negative.


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Keith Wang

Keith Wang is a writer and programmer specializing in bitcoin and blockchain technology. Keith has been a long time believer of bitcoin and blockchain technology and spends his free time following up with blockchain news. You can contact Keith at keith@cryptomenow.com

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