Close of Mt. Gox Bitcoin Distribution How much remains after $2 billion move?
Another large BTC transfer from defunct Japanese Bitcoin exchange Mt. Gox sent over $2 billion to crypto wallet addresses. As the exchange's repayment scheme nears its completion, its distribution funds have plummeted.
The blockchain platform revealed that Mt. Gox's big Bitcoin transfer likely went to BitGo addresses, a digital asset trust and security organization. Arkham disclosed that BitGo is the fifth and final custodian working directly with Mt.Gox to repay creditors.
After its 33,960 Bitcoin transfer, Mt. Gox has 32,899 BTC worth $2.11 billion. BTC is now trading at $64,622 on CoinMarketCap.
Mt. Gox said in June that it will distribute recovered Bitcoin and Bitcoin Cash (BCH) to creditors harmed by its 2014 cyber assault. The breach took hundreds of thousands of BTC from Mt Gox and its clients. The stolen BTC was worth $450 million, a huge loss for the exchange.
Since its breach, Mt. Gox has recovered 141,686 BTC. After several significant BTC transactions, the exchange's BTC distribution holdings dropped 76.5%.
Lookonchain said that Mt. Gox launched a huge Bitcoin transfer on July 31. The crypto site said that Mt. Gox transferred 47,229 BTC worth $3.13 billion to three unknown wallet addresses.
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Lookonchain also revealed that Mt. Gox has sent 61,559 BTC worth $3.89 billion to Bitstamp, Kraken, Bitbank, and SBI VC Trade since July 5. Mt. Gox's Bitcoin repayment programs are ending with fewer than half of its money remaining.
Over 17,000 Creditors Receive Bitcoin From Mt. Gox
Nobuaki Kobayashi, Mt. Gox's rehabilitation trustee, said on July 24 that the Bitcoin exchange had repaid over 17,000 creditors in Bitcoin and Bitcoin cash. After the July 5 and 16 repayments, Mt Gox's rehabilitation trustee paid creditors on July 24 utilizing bitcoin exchanges.
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