According to The Block, the bankrupt cryptocurrency exchange Mt. Gox sent over 27,871 BTC to an unlabeled wallet.
This transfer occurred when Bitcoin first broke the $100,000 mark.
The bankrupt cryptocurrency exchange Mt. Gox transferred nearly 24,000 BTC, worth approximately $2.4 billion, late Wednesday night, according to Arkham Intelligence data.
An unlabeled wallet address '1N7jW…1u8Yp' received 24,051.75 BTC from other cold wallet storage of Mt. Gox. This marks the first large-scale transfer from the exchange since November 12.
It is currently unclear whether Monday's transfer is part of Mt. Gox's future distribution to creditors, but similar transfers in the past often occur before repayments through centralized exchanges like Bitstamp and Kraken. Earlier this year, the bankrupt exchange postponed its repayment deadline from October 31, 2024, to October 31, 2025.
As the remaining Mt. Gox creditors await their BTC repayments, Bitcoin surpassed the benchmark of $100,000 during Wednesday's market rebound, positively influenced by the results of the U.S. elections on cryptocurrency. According to The Block's Bitcoin price page, Bitcoin rose by 7% in the past 24 hours, trading at $102,952.
Mt. Gox was established in Tokyo in 2010 and was once the largest Bitcoin exchange in the world until it suffered a major security breach in 2014, losing at least 850,000 BTC. Thousands of creditors have been waiting for the return of their Bitcoin, a process that has been unfolding over the past few months.
