Share this article
Bitcoin Market Impact From Mt. Gox Repayments Will Be Limited: Matrixport
Not all the stolen bitcoin was recovered, so only a fraction of the original amount held by creditors will be compensated, the report said.
By Will Canny
Updated Apr 27, 2023, 3:08 p.m. Published Apr 27, 2023, 7:52 a.m.
Bitcoin slid 8% during the U.S. afternoon Wednesday on rumors that wallets tied to defunct crypto exchange Mt. Gox and the U.S. government are making transactions, crypto-services provider Matrixport said in a report Thursday.
Matrixport says it has analyzed the potential market impact of the Mt. Gox haul and concluded that such an event would have limited effect on the bitcoin price. Still, investors should be well aware of the eventual distribution of those bitcoins, it said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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, the report said, noting that only 200,000 have been recovered.
“Since not all of the stolen BTC could be recovered, only a fraction of the original amount held by creditors will be compensated,” wrote Markus Thielen, head of research.
Creditors will receive a base payment with four options to receive the remainder of their funds, the note said.
These include “early lump-sum repayment (where customers can recover 15%-20% of their lost funds), repayment by bank remittance, repayment for a portion of crypto rehabilitation claims in crypto, or repayment through a fund transfer service provider,” the note added.
Sept. 30 is the deadline for repayments, the report said, with $1.7 billion in cash, 141,000 bitcoin and another 142,000 to be distributed as part of a civil rehabilitation plan.
Bitcoin was trading at around $28,920 at publication time.
Read more: Mt. Gox Bankruptcy Repayments Unlikely to Destabilize Bitcoin: UBS
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Aave slides as community debates over who controls the brand
A dispute over who controls Aave’s brand and online assets has moved to a vote, sending the token sharply lower.
What to know:
- Aave governance is debating control over its brand assets, including domains and social media, which are currently managed by third parties.
- Ernesto Boado, co-founder of BGD Labs, argues that AAVE token holders should formally own these assets to prevent unilateral control over the protocol's identity, and said the proposal was moved to a vote too quickly.
- Aave founder Stani Kulechov insists that the governance process for the proposal was legitimate.
Top Stories
