Since Bitcoin first surpassed the $100,000 level on Dec. 5, a remarkable chain of transfers has been initiated by Mt. Gox.
According to on-chain analytics platform Lookonchain, Mt. Gox sends between 200 and 300 BTC every business day to B2C2 Group, one of the leading liquidity providers in the cryptocurrency markets.
To date, Mt. Gox has reportedly transferred a total of 3,631.87 BTC. According to current market prices, this amount corresponds to approximately $364 million.
Creditors may be paid
Founded in 2015 and acquired by Japanese financial giant SBI in 2020, B2C2 is known as a major liquidity provider in crypto markets. Experts believe that these transfers may be carried out to pay creditors during Mt. Gox’s bankruptcy process.
Mt. Gox is an exchange that went bankrupt in 2014 and came to the fore with the scandal in which hundreds of thousands of Bitcoins were lost. The creditors who were victimized at that time have been waiting for compensation for years. It is being interpreted that these regular transfers made during this process could finally be a concrete step towards the compensation process.
Stay tuned.
