Photo credit: Kiyoshi Ota/Bloomberg

Mt. Gox has commenced customer repayments in Bitcoin (BTC) and Bitcoin Cash (BCH), a rehabilitation trustee for the defunct exchange wrote in a June 5 notice.

Rehabilitation trustee Nobuaki Kobayashi noted that some payments in Bitcoin and Bitcoin Cash were already made to rehabilitation creditors through designated cryptocurrency exchanges.

The notice further clarifies that the remaining repayments will be expedited once certain conditions are fulfilled. These prerequisites include the verification of registered accounts, acceptance of the Agency Receipt Agreement by designated crypto exchanges, finalized discussions between the trustee and exchanges regarding repayment details, and assurance of secure transaction processes.

Fears of a massive sell-off by Mt. Gox creditors, who are set to receive billions of dollars in Bitcoin and Bitcoin Cash, have intensified, contributing to BTC’s recent price decline of 12.1% in a week and 23.9% in a month. While some analysts believe the selling pressure may be limited, investors remain uneasy given the significant volume of Bitcoin that could flood the market. With Bitcoin trading at over $55,000 today, compared to $600 at the time of the 2014 hack, the potential profit for creditors is substantial.

This is a developing story and will be updated as more information becomes available.

Read more: Bitcoin slumps to $54K as Mt. Gox moves $2.7B in BTC