The Mt. Gox estate, responsible for overseeing a substantial sum of money owed to creditors, has moved a considerable quantity of Bitcoin to an undisclosed wallet as part of the last measures taken to address the incident that occurred ten years ago.
According to Arkham Intelligence, a company specializing in analyzing blockchain data, a total of 33,964 BTC, valued at $2.25 billion, was transferred to a different wallet.
Additionally, $3.1 billion worth of Bitcoin was moved between two cold wallets owned by the estate. The price of Bitcoin has exhibited a notable degree of stability in the last 24 hours.
Exchanges like as Kraken have reported the successful restoration of assets to creditors. Kraken is one of the five exchanges responsible for transferring the recovered funds to around 127,000 creditors who were affected by the collapse of Mt. Gox in 2014.
The trustee overseeing the Mt. Gox estate has verified that over 17,000 creditors would receive repayments in the form of Bitcoin and Bitcoin Cash. These repayments will be facilitated through certain crypto exchanges.
Repayments will be made once registered accounts have been verified and distribution arrangements have been agreed upon with specific crypto exchanges.
Bitstamp, SBI VC Trade, Bitbank, and Coincheck have confirmed their participation, while Coincheck has not yet responded. The primary wallet of the Mt. Gox estate currently retains around 80 BTC, which is valued at around $5.3 billion.
Neither Arkham Intelligence nor the Mt. Gox trustee have provided any comments regarding the recent movements. The significant Bitcoin transfers are a crucial step in addressing the aftermath of the Mt. Gox attack. This procedure include not only repaying funds but also handling legal and logistical matters.
