Mt. Gox Exchange Continues Bitcoin Transfers: $172.5 Million Worth of Transfers Completed
The Mt. Gox exchange continues to make transfers on days when Bitcoin peaks. Earlier this morning, two large transfers totaling $172.5 million were made from the exchange. According to data provided by Arkham, a total of 1620 BTC; of these, 191.7 BTC and 1427.9 BTC were divided into two different parts and sent to unknown addresses.
The exchange then re-divided these BTCs among themselves and made other transfers. 108 BTC of the 1427 BTC portion was sent to a separate address, and then these BTCs were combined with the 191 BTC portion. As a result of this transaction, a total of 300 BTC accumulated in the address in question.
The reasons behind the transfers of the Mt. Gox bankruptcy administration, which has been distributing Bitcoins through various exchanges since the summer months, are not yet clear. During this process, no explanation was made as to how and why the bankruptcy administration distributed the Bitcoins.
As you may recall, when the Bitcoin price exceeded $100,000 on December 5, the Mt. Gox exchange sent 24,000 Bitcoins to new addresses. The exchange, which caused great controversy when 800,000 BTC were stolen in 2014, went bankrupt at the time and still has over 36,000 Bitcoins. The current value of these BTCs is around $4 billion.
Following the major transfers in the summer months, a significant negative impact on the Bitcoin price was observed. However, the latest transfers are particularly notable for not having any negative impact on the price. This can be considered a reassuring development for investors and market participants.
Mt. Gox’s bankruptcy administration has decided to extend the deadline for aggrieved customers to file claims for payment until October 31, 2025. This extension gives aggrieved investors more time to seek their rights.
