As rumors about an upcoming Bitcoin (BTC) dump float on Twitter, Mt. Gox collectors took to Twitter to say that these are all false, with one highlighting that the defunct trade’s compensation system continues to be not but reside.

In a Twitter thread, Eric Wall launched himself as a Mt. Gox creditor and confirmed that there wouldn’t be a 137,000 BTC dump, countering the rumors floating round on social media. In response to Wall, the trade has not but accomplished the infrastructure wanted to start the compensation.

As well as, Wall stated that in the intervening time, persons are nonetheless unable to register the place to ship the Bitcoin and Bitcoin Money (BCH) funds. The creditor additionally believes that funds ought to occur in numerous installments, dismissing the fears that hundreds of Bitcoin will likely be offered abruptly, dumping the crypto’s value.

Wall additionally famous that the crypto trade has not but supplied a timeline detailing when it should proceed with its compensation course of. Following this, the creditor argued that even when the BTC have been launched, he would slightly purchase than promote due to the present market circumstances.

Eight International CEO Michaël van de Poppe highlighted that the distribution will likely be delayed. He tweeted:

BREAKING:

Mt. Gox won’t be releasing the #Bitcoin, and can delay the distribution, as soon as once more.

Your complete crypto house was stressing out closely on this, however unwarranted.

— Michaël van de Poppe (@CryptoMichNL) August 28, 2022

Marshall Hayner, one other Mt. Gox creditor, confirmed that they aren’t near receiving their BTC. Hayner assured the group that many individuals who will likely be getting their repayments from the trade don’t intend to promote their Bitcoin.

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In July, Nobuaki Kobayashi, the appointed rehabilitation trustee within the Mt. Gox rehabilitation plan, confirmed that the trade is getting ready to pay again its collectors. Within the official doc launched, the trade noted that the account holders can have the choice to obtain funds in BTC or BCH. The rehabilitation plan was first accredited in 2021. Nonetheless, from the 850,000 BTC owed, the trade solely has 150,000 BTC to pay its collectors.