Mt. Gox Continues Massive Bitcoin Transfer
Mt. Gox, the infamous cryptocurrency exchange that famously collapsed in 2014, is once again making headlines with a significant Bitcoin movement. Just 16 hours ago, the exchange transferred a staggering 33,140 BTC (approximately $1.97 billion) to a newly created wallet.
The source address, bc1q26tsxc0ge7phvcr2kyczexqf5pcj8rk79cqk90h34c30dn9dskeq3gmw3f, sent the funds to the destination address bc1qpn5n539pztvk9lg55fnrt3nq0dn5s88xd9x2p3aqxz03gmnkza9sny7k53.
While this new address appears to be a newly generated wallet, experts believe it might be an internal Mt. Gox address. This speculation is based on the exchange's past behavior of using multiple internal wallets for various purposes.
A Step Towards Creditor Repayment:
It's speculated that Mt. Gox is preparing to move portions of these newly transferred Bitcoins to major cryptocurrency exchanges like Bitstamp, SBI VC Trade, and Kraken. This aligns with the exchange's ongoing efforts to repay its creditors.
Since July 5, 2024, Mt. Gox has already transferred a substantial 61,559 BTC (approximately $4.03 billion) to these platforms for creditor disbursements.
Remaining Bitcoin Holdings:
Despite these significant transfers, Mt. Gox still holds a substantial amount of Bitcoin in its older wallets. Currently, the exchange manages 46,163 BTC (approximately $2.74 billion) across these legacy addresses.
