Mt. Gox Moves $3.13 Billion in Bitcoin to New Wallets
Mt. Gox continues its asset transfer operations as part of its plan to repay creditors, as previously announced.
On the morning of July 31, on-chain data sources revealed that Mt. Gox's Bitcoin wallet cluster made a new transaction involving 47,299 BTC, valued at approximately $3.13 billion.
The funds were distributed among three new addresses: bc1q26...mw3f (worth $2.2 billion), 1MUQEi...SXZZ (worth $879 million), and bc1q48...ft36 (worth $56.8 million).
#PeckShieldAlert #Mt.Gox labeled address has transferred 47.2K $BTC (worth ~$3.1B) to 3 new addresses bc1q26...mw3f (Balance: 33.1K $BTC worth ~$2.2B), 1MUQEi...SXZZ (Balance: 13.3K $BTC worth ~$879M), bc1q48...ft36 (Balance: 858.7 $BTC worth ~$56.8M) pic.twitter.com/d3eXfTGKvl
— PeckShieldAlert (@PeckShieldAlert) July 31, 2024
This move is likely part of the ongoing process to reimburse creditors who have been waiting for compensation since the Mt. Gox hack in 2014.
As reported by Coin68, Mt. Gox began its asset repayment process in July, with large transactions directed to designated platforms such as Kraken, Bitstamp, BitBank, and CoinJoin.
Mt. Gox's Large BTC Transfers in the Past Month. Source: Lookonchain (31/07/2024)
Currently, Mt. Gox holds over 80,000 BTC, valued at $5.3 billion. Over the past month, the exchange has repaid nearly 45% of its original 142,000 BTC holdings.
Mt. Gox Bitcoin Wallet Statistics as of the Morning of July 31, 2024. Source: Arkham
As of July 31, Bitcoin prices remain stable around $66,000, showing little volatility compared to the recent drop from $70,000 on the night of July 29, triggered by news of U.S. authorities moving $2.2 billion in BTC to new addresses.
1-hour BTC/USDT Chart on Binance as of 10:50 AM, July 31, 2024
