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MtGox Ghost Brings Bitcoin Down; Lawyer Announces $400 Million Sold

Yesterday, in a statement released on its webpage, the MtGox lawyer Nobuaki Kobayashi stated that he had been selling high amounts of Bitcoin and Bitcoin Cash since November of last year. The trustee informed that he had been doing so to secure some money for “distribution resources”.
The amount of crypto sold was detailed by him in the statement: 35,841.00701 BTC and 34,008.00701 in BCH. The strategy of the sale was not specified. He only mentioned that he “sold the amount of BTC and BCC above. I made efforts to sell BTC and BCC at as high a price as possible in light of the market price of BTC and BCC at the timing of the sale.”
Some experts say that the continued influx of bitcoin being sold at undisclosed prices has contributed to the recent drop in market prices. This proves that the crypto market is still very susceptible to manipulations by big players and hoarders, and still has to reach maturity; regulation has to play a big part in it.
The MtGox hack was the first great hack on the cryptocurrency history. The 850,000 bitcoins lost were valued at more than $450 million at the time of the incident.

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