Bitgo has taken a significant step in the long-awaited process of repaying creditors of the defunct Mt. Gox exchange. Recent test transactions initiated from a Bitcoin (BTC) wallet linked to Bitgo suggest that the long-overdue repayments may soon begin. The wallet, which holds a substantial amount of Bitcoin, has been identified by Arkham Intelligence as being under Bitgoâs control.
The Mt. Gox exchange, which collapsed in 2014, left many creditors waiting for their lost funds. The recent development marks a positive turn for these creditors. A wallet associated with the exchange received 33,105 BTC, valued at approximately $2.19 billion two weeks ago, and is now worth around $1.95 billion. On August 13, Bitgo executed a small test transaction of $5.88, indicating the potential start of the repayment process.
This move has provided some hope and relief to the creditors who have been in limbo for nearly a decade. Bitgo, one of the five exchanges working with the Trustee, is expected to facilitate the repayments, which may finally bring closure to the Mt. Gox saga.
Conclusion:
The initiation of test transactions by Bitgo is a promising sign that the Mt. Gox Bitcoin repayments may soon be underway. While the process has been slow, this recent activity suggests that creditors may finally begin to receive their long-awaited funds.
Takeaways:
Bitgo initiated test transactions from a wallet holding Mt. Goxâs Bitcoin.
The wallet currently holds 33,105 BTC, valued at around $1.95 billion.
Test transactions signal the potential start of repayments to long-waiting creditors.
Source:Â Coingape
Follow us to stay updated.
Disclaimer:Â This content is for informational purposes only and not financial advice.
