5 Billion dollar transfer created panic: Bitcoin is in decline!
Bitcoin (BTC) fell 2 percent after wallets belonging to the collapsed crypto exchange MtGox moved 75 thousand 21 BTC worth approximately $ 5 billion to an unknown wallet
Bitcoin (BTC) fell 2 percent after wallets belonging to the collapsed crypto exchange MtGox moved 75,021 BTC, worth approximately $5 billion, to an unknown wallet.
The frightening transfer in Bitcoin, defunct crypto exchange Mt. Gox's plan to return BTC assets to creditors before October. X account Whale Alert, known for its onchain data, revealed four onchain statistics ranging from 3,999 BTC to over 16,500 BTC in May 28 X posts
Blockchain research firm Arkham Intelligence found that from 01:41 to 02:54 UTC on May 28, multiple Mt. Gox cold wallet, including a total of 21 transfers, most of which moved 2,000 BTC at once.
Mt. Gox moved an additional 32,137 BTC to the same address at 04:11 UTC, bringing its total holdings to over $5 billion worth of Bitcoin. All transactions pointed to a single inactive address. Arkham, Mt. Gox still owns approximately 138,000 #BTC worth over $9.36 billion.
Mt. Gox's trustees, Nagashima Ohno and Tsunematsu, did not immediately respond to questions about where and why Bitcoin was moved. Bitcoin, Mt. Gox fell about 2 percent following BTC's move and is now trading at $67,875, up from $69,374 at the time of the initial transfer, according to #CoinMarketCap .
Last month, K33 Research analysts at Mt. Gox era warned that Bitcoin's movement would scare the market and create pressure on the market. Mt. Gox's final refund date is October 31. Trustees began contacting creditors in January to verify their identities and switch accounts for repayment.
