Mt. Gox moves $2.5 billion worth of Bitcoin from cold storage
Mt Gox's latest Bitcoin move is part of a plan to distribute over $9 billion to creditors.
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.
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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 32,371 BTC, worth around $2.1 billion, sent to an unidentified address, according to data from Arkham Intelligence.
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 on Tuesday. 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 it got the crypto assets from the Mt. Gox trustees. Kraken said repayments would be credited to relevant user accounts over two weeks.
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