Mt. Gox Exchange transfers 12,000 BTC
The defunct crypto exchange, Mt. Gox, recently moved a huge amount of Bitcoin. Blockchain analytics company Arkham Intelligence noticed 12,000 Bitcoin moving from a mountain on March 6.
The wallet is linked to Gox. less than $2 in fees were charged for the transaction, which transferred 166.05 BTC to the exchange’s cold storage and 11,834 BTC to an unidentified wallet.
Arkham Intelligence data indicates that wallets associated with Gox currently contain 36,080 Bitcoin, worth roughly $3.3 billion.
This is the first activity from these wallets following a small 4 BTC transfer between cold storage addresses in January, It’s still unknown why the most recent transaction occurred. In December, Mt. After moving over 24,000 Bitcoin, Gox moved 1,620 BTC through anonymous addresses in weeks.
Mt. Gox, once the largest Bitcoin exchange, went bankrupt after losing more than 800,000 BTC in 2014. Creditors are still pursuing repayments even after a lengthy bankruptcy process that lasted for years
The trustee in charge of Mt. Gox’s funds recently extended the payback deadline from Oct. 31, 2024, to Oct. 31, 2025. Some creditors await Bitcoin/Bitcoin Cash disbursements, while others have already received fiat repayments.
The market has reacted to past Bitcoin movements linked to Gox, but the current transfers have had little impact on BTC prices. Traders are still cautious about potential sell-offs, in case full repayments begin.
ABOUT THE AUTHOR
See More
Sidebar rates
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals