According to Odaily Planet Daily, CryptoQuant researcher Axler Adler Jr posted on the X platform that all funds in the Mt.Gox cold wallet have been transferred to a new wallet starting with 1JbezD. The current balance of the 1JbezD wallet is 141,000 BTC.
Alex Thorn, head of research at Galaxy Digital, believes that most of the Bitcoin will be held rather than sold immediately. "I personally expect most of the Bitcoin to be held, but I can't say the same for BCH (Bitcoin Cash)." Thorn said this was a consolidation before the transfer to the custodian: "All funds were transferred to the 1Jbez...APs6 address. This may be a consolidation before the transfer to the creditor custodian (BitGo, Kraken, Bitstamp). "
The trustee overseeing the Bitcoin repayment process for the defunct exchange has extended the repayment deadline to October 2024. The move is crucial for creditors who have been waiting for compensation for nearly a decade. News of the large Bitcoin transfer had an impact on the market, with Bitcoin prices falling to around $67,485 today.
