Mt. Gox has moved 37,477 BTC worth $2.47 billion to an anonymous address.
The transfer is part of ongoing efforts to reimburse users, with recent movements to Bitstamp and Kraken exchanges.
Kraken CEO praised the Trustee’s efforts in preserving Bitcoin and facilitating creditor repayments.
Defunct Japanese exchange Mt. Gox has resumed moving Bitcoin to unidentified destinations amid the crypto market’s corrective phase. Data from the analytics platform Arkham Intelligence shows that Mt. Gox sent 37,477 BTC tokens, valued at over $2.47 billion, to an unmarked address less than three hours ago.
The recent Bitcoin transfer by Mt. Gox comes as the cryptocurrency’s value has fallen by 2.78% in the past 24 hours, hitting a low of $65,484 after previously trading at $67,359. The $2.47 billion BTC transfer is part of a larger effort to reimburse users of the defunct exchange, building upon earlier transfers of funds to various liquid platforms.
Previous day, Mt. Gox had transferred a total of $2.85 billion in BTC to new wallets to distribute 5,110 BTC valued at $340.1 million to four separate addresses on the Bitstamp exchange. Notably, Bitstamp and Kraken are among the five exchanges with which the Mt. Gox Trustee is collaborating to facilitate the return of funds to Mt. Gox creditors.
In a recent update, Kraken CEO Dave Ripley announced that the exchange has successfully distributed Bitcoin and Bitcoin Cash from the Mt. Gox estate back to creditors. Ripley remarked that it has been nearly a decade since the Trustee selected Kraken to facilitate the investigation and return of client funds. “It was our privilege, and it was our duty,” he said.
1/ @krakenfx has successfully distributed #Bitcoin and Bitcoin Cash from the @mtgox estate back to creditors.It’s been nearly a decade since Kraken was selected by the Trustee to facilitate the investigation and return of client funds. It was our privilege and it was our duty. pic.twitter.com/ptKexzN4gm
— Dave Ripley (@DavidLRipley) July 23, 2024
Furthermore, Ripley acknowledged that frivolous lawsuits have hindered earlier payments. However, he expressed gratitude to the Trustee for safeguarding the majority of Bitcoin and holding onto it for an extended period. He praised the Trustee’s efforts, saying that the preservation of value has been exemplary and will likely be greatly appreciated by all creditors.
As of the latest record, Mt. Gox now holds 90,344 BTC tokens valued at over $5.94 billion, a significant drop from the wallet’s earlier 140,000 BTC worth around $9 billion.
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