A massive dump of Bitcoin, and the world of cryptocurrencies is on the brink
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Defunct Bitcoin exchange Mt.Gox moves $7.2 billion in Bitcoin.
The huge transfer raises questions amid the ongoing repayment process to creditors.
As of the time of writing, Bitcoin is trading with a daily loss of 1.53% and a weekly decline of 4.87%.
Blockchain tracker Whale Alert reported that on the morning of May 28, cryptocurrency wallets controlled by the now-defunct Mt.Gox company transferred approximately 107,547 BTC (equivalent to $7.2 billion USD) to an unknown wallet.
Whale Alert's initial report details the transfer of 3,999 bitcoins (worth approximately $277 million) from Mt.Gox to an unknown wallet. The move has generated significant interest within the cryptocurrency community, especially given Mt Gox's ongoing efforts to compensate creditors affected by its collapse in 2014. For those uninitiated, Mt.Gox was a Japan-based cryptocurrency exchange that collapsed in 2014.
popular
Defunct Bitcoin exchange Mt.Gox moves $7.2 billion in Bitcoin.
The huge transfer raises questions amid the ongoing repayment process to creditors.
As of the time of writing, Bitcoin is trading with a daily loss of 1.53% and a weekly decline of 4.87%.
Blockchain tracker Whale Alert reported that on the morning of May 28, cryptocurrency wallets controlled by the now-defunct Mt.Gox company transferred approximately 107,547 BTC (equivalent to $7.2 billion USD) to an unknown wallet.
Whale Alert's initial report details the transfer of 3,999 bitcoins (worth approximately $277 million) from Mt.Gox to an unknown wallet. The move has generated significant interest within the cryptocurrency community, especially given Mt Gox's ongoing efforts to compensate creditors affected by its collapse in 2014. For those uninitiated, Mt.Gox was a Japan-based cryptocurrency exchange that collapsed in 2014.