Summary
- Today, Mt. Gox moved about $2.8 billion in BTC to an unidentified address.
- Yesterday, the exchange moved a small amount of BTC to Bitstamp.
According to the latest reports, a Mt. Gox labeled wallet address has sent 42,587 BTC worth over $2.8 billion at current prices to a new address today, at approximately 5 am UTC.
Lookonchain shared a post via X, revealing the transfer. According to their notes, 5,110 BTC worth about $341 million was transferred to an internal wallet, and 37,477 BTC worth about $2.5 billion was transferred to a new wallet.
The funds move appears to be part of the exchange’s ongoing repayment of $9 billion worth of BTC to creditors.
The internal wallet is reportedly the exchange’s cold storage address ending in “1Jbez,” official data reveals.
Also, at around 6:30 am UTC, Mt. Gox moved 2238.87 BTC worth around $150 million to Bitstamp. This may indicate that Bitstamp’s distribution of BTC payments is now imminent.
Mt. Gox Moves BTC Worth $1,400
According to official reports, the defunct exchange moved a small amount of BTC worth around $1,400. One of the recipients was an address belonging to Bitstamp, according to the reports coming from Arkham Intelligence.
Bitstamp is one of the exchanges that has been selected by the Mt. Gox trustee to deliver the Bitcoin payout. The exchange said earlier this month that it plans to distribute the coins to creditors as soon as they arrive.
Kraken is another exchange selected by the trustee, and it received its own share of tokens a week ago.
Bitbank and SBI VC Trade, two Japanese exchanges, have already received their funds, distributing them within hours after getting BTC.
Not too long ago, we were addressing the fact that the Mt. Gox FUD is reportedly overestimated. The CEO of CryptoQuant shared a post on X, explaining that the FUD around the fund distribution from Mt. Gox is will not affect Bitcoin’s price significantly.
At the moment of writing this article, Bitcoin is trading close to $67,000.
