Mt. Gox Moves $3 Billion in Bitcoins to Unmarked Address
The Mt. Gox address currently holds 137,892 BTC, and the exchange has announced plans to distribute a total of 142,000 BTC and 143,000 BCH by October 31, 2024. This is the first time in five years that the Mt. Gox has transferred Bitcoins out of its wallet
In the past few hours, wallets connected to the defunct crypto exchange Mt. Gox have transferred a large number of Bitcoins. According to data from Arkham Intelligence, the Mt. Gox wallet transferred a total of approximately 43,000 Bitcoin worth an astounding $3 billion.
According to the data from Arkham Intelligence, Mt. Gox moved these Bitcoins in three separate transactions of 12,240 BTC, 14,050 BTC, and another 16,589 BTC within a very short period of time.
Mt. Gox, the defunct cryptocurrency exchange, is set to distribute its remaining holdings to creditors. The Mt. Gox address currently holds 137,892 BTC, and the exchange has announced plans to distribute a total of 142,000 BTC and 143,000 BCH by October 31, 2024.
Furthermore, this is the first time in five years that the Mt. Gox has transferred Bitcoins out of its wallet. This move marks a significant step in resolving the long-standing bankruptcy proceedings and returning assets to those affected by the exchange's collapse.
Launched in 2010, the Tokyo-based platform quickly gained popularity, becoming the largest Bitcoin exchange by 2013 and handling 70% of all bitcoin trades worldwide. However, in early 2014, it halted all withdrawals and suspended trading. Shortly thereafter, the site went offline, and the company filed for bankruptcy protection after losing over 800,000 Bitcoins.
