Mt. Gox Transfers $3.15 Billion in BTC to New Wallets

As per data from Spot on Chain, crypto exchange Mt. Gox has moved 45,511 Bitcoin to three different wallets worth a staggering $3.15 billion.

Crypto exchange Mt. Gox has moved a total of 45,511 Bitcoins in the past two hours, as per on-chain data. This move comes in preparation for further creditor distribution, with the exchange having transferred 61,559 BTC for this purpose since July 5.

After dropping to $66,000 levels yesterday, the Bitcoin price has shown minimal movement, with a slight dip of 0.5% at press time.

Mt. Gox Transfers $3.15 Billion in BTC to New Wallets

According to data from Spot on Chain, crypto exchange Mt. Gox has moved 45,511 Bitcoin to three different wallets, amounting to an astonishing $3.15 billion. Considering previous activities, it is highly probable that Mt. Gox will proceed to move these BTC to centralized exchanges for the purpose of repaying creditors.

The crypto exchange has been transferring BTC for creditor repayments since July 5, with a total of 61,559 Bitcoin, valued at $3.88 billion, having been moved to exchanges like Kraken, Bitstamp, and SBIVC. Notably, there have been reports of some Mt. Gox creditors being denied BTC payouts by Kraken, despite completing identity verification.

? Mt. Gox moved 45,511 $BTC ($3.15B) to 3 new wallets in the past 2 hours!

Based on past activities, Mt. Gox may soon move parts of these $BTC to CEX to repay creditors.

Since July 5, 2024, Mt. Gox has transferred a total of 61,559 $BTC ($3.88B) to #Bitstamp, #SBIVC and… https://t.co/x3XrPCA2Xr pic.twitter.com/FkzPl2LP7M

— Spot On Chain (@spotonchain) July 31, 2024

The Bitcoin price has experienced significant volatility during the creditor repayments this month. However, it encountered strong resistance at $70,000 and has since slipped back to $66,000 as of late Monday.

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