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According to Galaxy's Alex Thorn expects only 1,265 BTC, woth over $70 million, may be offloaded in the market.

Some former customers of the crypto exchange have reported receiving an email asking for confirmation of identity and account details on the mtgoxinsolvency subreddit group.

Mt. Gox-linked crypto wallets still hold $2.7 billion of bitcoin after having distributed nearly $6 billion worth of assets to creditors earlier this year, Arkham data shows.

The defunct crypto exchange’s trustees said Monday they are preparing to start distributing bitcoin (BTC) stolen from clients in a 2014 hack in the first week of July.

Trustees transferred over 30,000 BTC from “1FG2C…Rveoy” to “1Fhod…LFRT,” a new wallet, and $200 million to a Mt. Gox cold wallet.

The defunct crypto exchange is supposed to return over 140,000 bitcoin to victims of the 2014 hack.

The defunct crypto exchange will distribute 142,000 BTC and 143,000 BCH to creditors later this year, 10 years after its implosion due to a hack.

Nearly 107,000 bitcoin have been moved since early Asian hours on Tuesday, with bitcoin shedding 1.2% on expectations of selling pressure.

Positive news around the FTX bankruptcy has seen claims being sold for upward of 70 cents on the dollar, now climbing towards the eighties.