Here comes the reason for today's market drop!
Multiple wallets of Mt.Gox in Mentougou conduct small transfer tests
On July 4, The Block reported that in the hours before the repayment of $9 billion worth of Bitcoin, multiple Mt.Gox wallets participated in small transfer tests.
According to Arkham Intelligence, these transactions involved three wallets previously associated with the collapsed trading platform. The largest transaction was $24 worth of Bitcoin.
When the Mt.Gox funds were last transferred on a large scale, the funds were mainly consolidated into three wallets. When this happened, there was still $24 left in a wallet that was once used as an intermediary. According to the Arkham label, in the past few hours, this small amount of Bitcoin was forwarded to a wallet, which then sent the funds to Bitbank's hot wallet. The rest of the Bitcoin was sent to a new wallet.
