Mt. Gox, the notorious Bitcoin exchange that crashed back in 2014, has recently witnessed the movement of $BTC tokens. As per Arkham Intelligence, a famous blockchain analytics platform, 4 Mt. Gox wallets got emptied following getting Bitcoin equaling $370,000 from Kraken, igniting speculation concerning the long-awaited repayment procedure for the defunct exchange’s creditors. The analytics firm took to its official social media account to disclose this development.
MT. GOX BTC ON THE MOVEMt. Gox emptied 4 of their wallets last night after receiving $370K in BTC from Kraken.More repayments coming soon?Mt. Gox currently holds 44,899 BTC ($2.85B). pic.twitter.com/Zh1OKQOygW
— Arkham (@ArkhamIntel) September 25, 2024
Mt. Gox Witnesses Movement of 44,899 $BTC Tokens
This fund movement takes place at a time when Mt. Gox made multiple transfers and now it has a significant balance of up to 44,899 $BTC. The respective figure reportedly accounts for nearly $2.85B at the present prices. The respective assets stand among the remaining reserves that Mt. Gox intends to pay back to the creditors. They reportedly went through a huge loss of funds during the collapse of the exchange a decade back.
As per the reports, a hack caused the collapse of Mt. Gox, draining hundreds of thousands of $BTC tokens. As a result of that, the creditors have been waiting for long to get repayments. However, the recent activity has increased the optimism concerning imminent repayments.
The Development Heightens Optimism Concerning a Likely Reimbursement Plan for Mt. Gox Creditors
The defunct Bitcoin exchange has not made any official statement regarding the date for the complete reimbursement. Nevertheless, as Arkham Intelligence puts it, this fund movement has reportedly paved the way for increased hopes about some potential announcements.
