Mt. Gox moves $840 million in Bitcoin to new wallet.
Defunct crypto exchange Mt. Gox transferred 12,240 BTC, valued at approximately $840 million, to a new wallet over the past hour, according to data from Arkham Intelligence. Following the transfer, Bitcoin’s price experienced a minor dip, dropping below $68,500 after surpassing $70,600 on Monday, according to CoinGecko’s data.
The latest movement comes ahead of the repayment deadline set by October 31. Mt. Gox plans to repay its creditors 142,000 BTC, 143,000 BCH, and 69 billion Japanese yen. There is still a substantial balance, worth approximately $9.7 billion, in the wallet.

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Bitcoin
Mt. Gox moves $840 million in Bitcoin to new wallet
by
Vivian Nguyen
3 hours ago
Mt. Gox holds over $9.5 billion in Bitcoin as repayment to creditors nears.

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Defunct crypto exchange Mt. Gox transferred 12,240 BTC, valued at approximately $840 million, to a new wallet over the past hour, according to data from Arkham Intelligence. Following the transfer, Bitcoin’s price experienced a minor dip, dropping below $68,500 after surpassing $70,600 on Monday, according to CoinGecko’s data.
Mt. Gox BTC transfer on May 27 – Source: Arkham Intelligence
The latest movement comes ahead of the repayment deadline set by October 31. Mt. Gox plans to repay its creditors 142,000 BTC, 143,000 BCH, and 69 billion Japanese yen. There is still a substantial balance, worth approximately $9.7 billion, in the wallet.

Market members have speculated that the large release could trigger a sell-off that depresses Bitcoin’s price. However, experts suggest that Bitcoin maximalists could shield the market from the sell-off effects.
Established in 2010 and once responsible for 70% of Bitcoin transactions worldwide, Mt. Gox suffered a devastating cyberattack in 2014, resulting in huge Bitcoin losses for both the exchange and its customers.