Mt. Gox moves $2 billion in Bitcoin, sparking speculation of additional repayments

Share This Post

Mt. Gox, the defunct crypto exchange, has transferred more than $2 billion worth of Bitcoin into two newly created wallets, according to data from Arkham Intelligence.

Data from the blockchain analytics platform shows that Mt. Gox executed this transaction on Nov. 4 at 23:38 UTC. Most of these funds, totaling 30,371 BTC, were directed to an unknown wallet address labeled “1FG2C.” About an hour later, around 2000 BTC was transferred to the address “15gNR.”

Despite these transfers, Mt Gox still holds about 44,378 BTC, valued at $3.04 billion as of press time, according to Arkham Intelligence.

Meanwhile, SpotOnChain, another blockchain analytics firm, highlighted that the Mt. Gox wallet has been particularly active recently. Within the past four days, it has moved 32,871 BTC, valued at approximately $2.22 billion, into various blockchain wallets.

Of this amount, a small segment—296 BTC, worth about $20.13 million—went to wallets connected to two prominent crypto exchanges, OKX and B2C2.

This substantial transfer has sparked widespread speculation about Mt. Gox’s schedule for its remaining assets and the potential impact on the crypto market.

Over recent months, Mt. Gox has continued distributing Bitcoin and Bitcoin Cash to creditors who suffered losses during the infamous 2014 hack. The hack saw the disappearance of up to 950,000 BTC, now worth over $58 billion.

These repayments are processed through several major platforms, including Kraken, Bitstamp, and BitGo. Notably, Mt. Gox recently extended its repayment deadline by a year—from Oct. 31, 2024, to Oct. 31, 2025—to ensure it can complete reimbursements for all creditors.

The post Mt. Gox moves $2 billion in Bitcoin, sparking speculation of additional repayments appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Price Crash Below $70,000: What Does It Have To Do With Whales And The US Presidential Elections?

After skyrocketing above $72,000 earlier last week, the Bitcoin price has experienced an unexpected crash below the $70,000 mark ahead of the US Presidential elections Reports have cited the

Bitcoin Price Prediction for Next 48 Hours: Will It Drop Below $66k?

The post Bitcoin Price Prediction for Next 48 Hours: Will It Drop Below $66k appeared first on Coinpedia Fintech News Amid the heightened hype of the US 2024 elections, which has seen pro-crypto

Binance Expands Trade Offerings For POPCAT & MEW; Memecoins To Rally?

The post Binance Expands Trade Offerings For POPCAT & MEW; Memecoins To Rally appeared first on Coinpedia Fintech News Crypto exchange Binance has made an important announcement today on 2 meme

Hellish US Debt Scenario Could Propel Bitcoin to $1 Million by 2030

Sebastian Serrano, CEO of the Argentina-based cryptocurrency exchange Ripio, has predicted that bitcoin will reach $1 million by 2030, driven by the rise of US public debt and the devaluation of the

Big Money Investors Are Betting Big on Rexas Finance (RXS) Over Cardano (ADA) and Dogecoin (DOGE); But Why?

The post Big Money Investors Are Betting Big on Rexas Finance (RXS) Over Cardano (ADA) and Dogecoin (DOGE); But Why appeared first on Coinpedia Fintech News High-net-worth investors are always in

What’s Next for Bitcoin, Ethereum and Solana Ahead of US Elections? BTC Confirms Rally Above $70k

The post What’s Next for Bitcoin, Ethereum and Solana Ahead of US Elections BTC Confirms Rally Above $70k appeared first on Coinpedia Fintech News Right now, as the US election unfolds, it’s