Defunct crypto exchange, Mt.Gox, has reportedly activated one of the wallet addresses to be used for customer repayments by sending a mere $24 worth of Bitcoin to it. This update has raised the hopes of eligible customers who are patiently awaiting the payment date.
As the failed exchange prepares for the big day, test transfers and measures are being taken to ensure a smooth and successful repayment. Mt. Gox had previously announced that it would commence the debt repayment of about $9 billion in Bitcoin (BTC) and Bitcoin Cash (BCH).
According to data from Arkham Intelligence, a sophisticated blockchain intelligence platform, Mt. Gox initiated this transfer at about 04:21:50 UTC, sending 0.00041602 BTC (valued at $25.55) from its cold wallet to a wallet identified as '16s5...zhjy' reportedly associated with the Bitbank exchange.
The Rehabilitation Trustee has assured users that their repayments will be processed in early July, however, a definite date has not been communicated. Also, the crypto exchanges have assured creditors that their funds will be made available within 3 months (90 days) of receipt.
The small transactions initiated by Mt. Gox further raise the question about a possible test run in preparation for the nig day. A close look at Mt. Gox's balance reveals that the collapsed exchange holds 141.687K BTC (valued at $8.17 billion) which will be distributed at the set time.
The post "Mt. Gox Transfers $24 Bitcoin to Activate Wallet Ahead of Customer Repayments" first appeared on 36crypto.com News.
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