Bitcoin Forum

Mt Gox trustee has been moving coins and very possibly selling, but on behalf of whom?

As i understand it creditors were owed $400M and this debt was paid off already.

Is he now selling for shareholders, including Karpeles?

maybe they are paying him to just "move the coins" around from one pocket to another so that they can cause this panic we have witnessed recently. there surely is a lot of profit to cause such panics in the market you can see the drop is about 10%, imagine if you could make 10% profit in a couple of days on a large amount of money as a whale just by causing this little show, wouldn't you do it too?

the average price of each unit of Bitcoin sold for 10,105 US dollars. Bitcoin's own market price is currently 10,031 US dollars. Mt Gox declared bankruptcy in 2014 after they lost 850 thousand Bitcoin units worth 500 million US dollars (about Rp 6.875 billion) due to hacking. Mt Gox then claims to have recovered about 200 thousand units of Bitcoin.

They have moved 24214.9708 BTC from their cold storage and most probably they are liquidating those coins, what Mt Gox is doing is not acceptable in the sense, they settled the users funds with the rate during the hack and the price has grown significantly and they own the rest, what logic is that, they need to be some intervention from authorities to evaluate once again the users funds with the increase in price or take an average and then they should settle rather than setting the price when the exchange was hacked.

I don't know why this Mt Gox game is needed. Perhaps especially now the hype is growing to reset the excess ballast and then allow bitcoin to float again.