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.

According to Whale Alert monitoring, 60 million USDT were transferred from Kraken to Bitfinex.
#Mtgox

On November 23, as monitored by PeckShield, Justin Sun withdrew 11.5 million TRX (approximately $1.17 million) and over 1.16 million USDT (approximately $1.17 million) in liquidity funds from PancakeSwap.Subsequently, the address bridged 11.5 million TRX to BitTorrent.
#Mtgox

The United States has charged two Russian nationals in connection with the hack of Mt. Gox, a collapsed cryptocurrency exchange known for one of the world's earliest and biggest alleged bitcoin heists.

The accused individuals are Alexey Bilyuchenko, 43, and Aleksandr Verner, 29.

They have been charged with conspiring to launder approximately 647,000 bitcoins that were obtained through the hack of Mt. Gox.

Mt. Gox collapsed in 2014 after losing around half a billion dollars worth of cryptocurrency at the time.

The hack of Mt. Gox highlighted the vulnerability of cryptocurrency exchanges and their users to cybercriminals.

Bilyuchenko was closely associated with Alexander Vinnik, a Russian cybercrime kingpin.

Vinnik was arrested in Greece in 2017, convicted of money laundering in France in 2020, and is currently awaiting trial in California on charges related to running BTC-e, a defunct Russian exchange accused by the Department of Justice of serving cybercriminals worldwide.

When Vinnik was arrested, Bilyuchenko narrowly escaped arrest by disposing of his computer, throwing it into the sea, and quickly returning to Moscow.

The Department of Justice has also charged Bilyuchenko with conspiring with Vinnik to operate BTC-e from 2011 to 2017.

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Bloomberg ETF analyst James Seyffart posted an article stating that Grayscale has submitted a new S-3/prospectus for the conversion of GBTC to ETF. The biggest update is the plan to change the code "GBTC" to "BTC", confirming that Grayscale is negotiating with the SEC and updating/changing its product documentation after discussing and receiving feedback from the SEC.
#Mtgox

After years of waiting, creditors of the defunct cryptocurrency exchange Mt. Gox have reason to hope as the company confirms that it has begun processing the first round of payments to its creditors. This is a highly significant event to be followed in the month of April.

The community was previously informed that the deadline for payment was in March, but this was pushed back to April 6 at the last minute by Mt. Gox. Fortunately, this time there was no last-minute change of plans. On April 7th, Mt. Gox’s trustee announced that the deadline for creditors to provide information had been completed, and the exchange would begin the first payment process.

However, creditors will not receive their assets immediately but will have to wait for processing time.

The trustee stated that they are taking the final preparation steps and will then send coins to financial institutions and cryptocurrency exchanges, which will then send the coins to the creditors.

“Due to this, it is expected to take some time before the repayments begin.”

The deadline for this payment round is October 31st, but the trustee also noted that the deadline could be extended with the permission of the Tokyo District Court.

According to the accounting balance sheet, Mt. Gox’s trustee currently holds 142,000 BTC, 143,000 BCH, and 69 billion yen (equivalent to $510 million USD). However, there is no exact information on the amount to be paid in this round.

All we know is that the payment will be made in BTC, BCH, and fiat currency. The first 200,000 yen will be paid in Japanese yen, followed by payments in crypto – if the creditor chooses to receive it. The crypto payment includes 71% coins (BTC and BCH) and 21% cash.

The Mt. Gox incident, which caused losses of over 850,000 BTC, was one of the biggest cryptocurrency exchange hacks in history. The company filed for bankruptcy in 2014 and has since been working to repay its creditors. While this is a significant development, there is still a long way to go before creditors receive their full payment. However, this marks a step forward for the Mt. Gox creditors and the cryptocurrency industry as a whole.

#Mtgox #Bitcoin #BTC #btcsoaring #azcoinnews

This article was republished from azcoinnews.com