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Mt. Gox moves $2.5 billion worth of Bitcoin from cold storage

1 month ago

Mt Gox's latest Bitcoin move is part of a plan to distribute over $9 billion to creditors.

Golden bitcoin transfer illustration.

Key Takeaways

  • Mt. Gox transferred around $2.1 billion in Bitcoin to a new address.
  • The entity still holds nearly $6 billion worth of Bitcoin.

A cold storage wallet linked to Mt. Gox moved around 37,477 Bitcoin (BTC), valued at nearly $2.5 billion a couple of minutes ago, with around 32,371 BTC sent to an unidentified address, according to data from Arkham Intelligence.

The Bitcoin stash was sent from a Mt. Gox-labeled wallet address to the cold storage wallet yesterday. The latest move could be part of an ongoing process to repay $9 billion in Bitcoin to creditors.

Arkham reported that Mt. Gox moved over $2.8 million in Bitcoin yesterday. The entity eventually distributed $340 million in Bitcoin to four Bitstamp addresses. Bitstamp is one of the chosen crypto exchanges in charge of handling creditor repayments.

Several Mt. Gox’s creditors reported that they started receiving Bitcoin and Bitcoin Cash from Kraken after the exchange confirmed receiving Bitcoin and Bitcoin Cash from the Mt. Gox trustee.

Disclaimer

Source: cryptobriefing.com

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