According to PANews, a significant Bitcoin transaction was detected on May 28th. Whale Alert, a blockchain monitoring service, reported that 3,999 Bitcoins, equivalent to approximately 277,654,876 US dollars, were transferred from the infamous MtGox exchange to an unidentified wallet. The transaction occurred at 9:41 Beijing time.

The destination of the transferred Bitcoins remains unknown. The MtGox exchange, once the world's largest Bitcoin exchange, has been involved in several controversies and legal issues in the past, including a major hack in 2014 that led to its bankruptcy. This recent large-scale transfer of Bitcoins from MtGox has raised questions and speculation within the cryptocurrency community.

However, the details surrounding this transaction, including the identity of the recipient and the purpose of the transfer, are currently unknown. This story is developing and further updates will be provided as more information becomes available.

Mt.Gox Bitcoin Payout: Exchange Moves $152M Ahead of Major Repayments
Mt.Gox repayment: With 36,085 BTC (worth $3.84B) held for distribution, on-chain activity suggests potential market volatility as payouts accelerate.
Mt.Gox payout: The defunct exchange has begun transferring Bitcoin, moving $152M in BTC to new addresses, signaling progress in creditor repayments.
As defunct cryptocurrency exchange, Mt.Gox prepares to wind down its restructuring process in the coming months, on-chain data shows a notable increase in Bitcoin (BTC) transfers.
Furthermore, Mt.Gox has until October 2025 to finalize repayment to distressed creditors, after a lengthy period of around a decade.
Mt.Gox’s Recent Bitcoin Transfers
According to on-chain data analysis by Arkham Intelligence, Mt Gox transferred 191.678 BTC, worth about $20.42 million, to a new address bc1q6h…gf9zaa earlier today.
Additionally, the defunct crypto exchange transferred 1,428 BTC, worth about $152 million, to another new address13JrY5…MVZJCX.
Consequently, Mt Gox now holds 36,085 BTC, worth about $3.84 billion, which will be distributed to creditors through different cryptocurrency exchanges.
In the past few weeks, Bitcoin addresses associated with Mt.Gox have made several transactions.
Impact on BTC Market
The closure of the Mt.Gox saga is a major milestone for the Bitcoin industry amid the mainstream adoption of digital assets and web3 products.
The distribution of Mt.Gox Bitcoin has in the past been viewed as a short-term bearish sentiment.
Furthermore, most of the My. Gox creditors were retail traders, who would need to purchase altcoins to compensate for the lost time in the past decade.
The altcoin industry has a higher volatility and, thus a higher risk-to-return ratio, compared to Bitcoin, which is gradually being affected by diminishing returns.
Bitcoin price rallied over 2 percent in the past 24 hours to trade at about $106,591 on Tuesday, December 17, during the early European session.
Consequently, Bitcoin’s market cap surged to over $2.11 trillion as Satoshi’s BTC holding surpassed the combined estimated wealth of Bill Gates.
#MtGox #Bitcoin #cryptomarket #cryptocurrencies #CryptoNews

One day, Kevin Day, a tech enthusiast from Nebraska, found himself at the center of one of the most dramatic events in Bitcoin history. In the 1990s, Kevin had worked as a video game developer on classics like Mortal Kombat 4, NBA Showtime, and NFL Blitz. A true geek at heart, he even had the chance to meet Mark Hamill, the actor behind Luke Skywalker.

Beyond his gaming career, Kevin was passionate about the internet. After his startup folded during the Dot-Com Crash, he turned to hosting websites, drawn by the freedom and creativity of the web. That same spirit eventually led him to #Bitcoin . Kevin joined the Bitcoin community when the price was $7, captivated by its meteoric rise from just $0.30. He quickly threw himself into mining, eager to be part of this revolutionary digital movement.
On June 19, 2011, Kevin’s passion collided with an extraordinary opportunity. Within just 20 minutes, Bitcoin’s price crashed from $17 to an astonishing $0.01. While others were paralyzed by panic, Kevin saw his chance. Acting quickly, he placed a bid to buy $3,000 worth of Bitcoin at $0.01 per coin. His order succeeded, securing him an unbelievable 259,684 #BTC for less than $3,000.
As the price rebounded, Kevin’s investment soared in value, skyrocketing by an incredible 166,000%. He managed to withdraw 643 BTC—the maximum allowed under the exchange’s policies—before everything unraveled.

The crash, it turned out, wasn’t a mere market fluctuation. It was the result of a hack on the Mt. Gox exchange. The hacker had stolen Bitcoin and sold it at fire-sale prices, creating chaos in the market. To address the fallout, #MtGox decided to roll back all trades made during the crash, including Kevin’s.

This decision erased Kevin’s remaining Bitcoin and the holdings of countless other traders who had placed legitimate orders. Though Kevin had acted in good faith, the Bitcoin community was split. Some accused him of being the hacker, while others defended him as an innocent trader who had simply seized an opportunity.
Unshaken, Kevin stepped forward to tell his side of the story. He argued that his trades were legitimate and criticized Mt. Gox for setting a dangerous precedent with its rollback. To Kevin, exchanges should uphold Bitcoin’s core principles: transparency, immutability, and fairness.
Despite being advised to sue Mt. Gox, Kevin chose not to pursue legal action, fearing it might destabilize the fledgling Bitcoin ecosystem. Instead, he became an advocate for personal responsibility in cryptocurrency, championing the now-famous mantra: #NotYourKeysNotYourCoins .
Though Kevin lost 259,360 $BTC —worth over $16 billion today—his story stands as a cautionary tale. It highlights the risks of centralized exchanges and underscores the importance of safeguarding one’s assets in the unpredictable world of cryptocurrency.