Bitcoin (BTC) experienced an 8% drop on Wednesday after rumors spread that wallets associated with the defunct crypto exchange Mt. Gox and the U.S. government are making transactions, according to a report by crypto-services provider Matrixport. Although Matrixport believes that the potential market impact of the Mt. Gox haul would have limited effect on the bitcoin price, investors should be aware of the eventual distribution of those bitcoins. The Mt. Gox hack resulted in the theft of 850,000 bitcoins, valued at $500 million at the time and now worth $17.8 billion. Only 200,000 have been recovered so far, and creditors will receive a base payment with four options to receive the remainder of their funds by the September 30 deadline. The options include early lump-sum repayment, repayment by bank remittance, repayment for a portion of crypto rehabilitation claims in crypto, or repayment through a fund transfer service provider.
(By Will Canny)
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