Home web3.0 Mt. Gox Postpones Deadline to Repay Creditors as Bitcoin, Associated With the Collapsed Crypto Exchange, Moves Again

Mt. Gox Postpones Deadline to Repay Creditors as Bitcoin, Associated With the Collapsed Crypto Exchange, Moves Again

Nov 03, 2024 am 06:36 AM
BTC Mt. Gox Cold Wallet Storage Repayment Extension

Blockchain intelligence firm Arkham identified two transactions in which the exchange transferred 500 BTC to cold storage on November 1st.

Mt. Gox Postpones Deadline to Repay Creditors as Bitcoin, Associated With the Collapsed Crypto Exchange, Moves Again

Bitcoin (BTC) linked to the now-defunct crypto exchange Mt. Gox was reportedly moved on Monday, according to blockchain analysis data.

Two transactions, totaling 500 BTC (around $35 million at current market value), were identified by Arkham as moving Bitcoin associated with the exchange. The transactions, 31.78 BTC and 468.24 BTC, were sent to two unknown addresses. This marks the first major coin movement from Mt. Gox wallets in a month.

According to Arkham, around 44,905 BTC, valued at roughly $3.1 billion, remains in Mt. Gox-associated wallets.

Mt. Gox, once the world’s largest crypto exchange, was hacked in 2014, leading to the loss of 850,000 BTC. After the exchange filed for bankruptcy, law enforcement recovered 140,000 BTC over the years. Finally, in 2021, a rehabilitation proposal was approved, allowing creditors to begin recouping their funds.

However, creditors now face further delays in receiving their repayments. Crypto exchanges Kraken, Bitstamp, Bitbank, SBI VC Trade, and BitGo are tasked with handling the distribution of repayments to Mt. Gox’s creditors. While some creditors have already received their funds, it appears that not all will be getting their銭backすぐ。

Earlier this month, Mt. Gox announced that the deadline for making repayments has been extended to October 2025.

“However, many rehabilitation creditors still have not received their Repayments because they have not completed the necessary procedures for receiving Repayments,” the exchange stated.

The exchange also highlighted “issues arising in the Repayments process” as a reason for some creditors not receiving their payments.

Mt. Gox was one of the first Bitcoin exchanges globally, handling about 70% of global BTC transactions at one point. The exchange’s glory was short-lived, as a series of security breaches ultimately bankrupted the company.

Still, market participants remain concerned about the repayments, given the vast amount of BTC involved. Previous Bitcoin transactions by Mt. Gox have spooked market participants, sparking speculation about a potential selloff. Creditors are set to stand to gain significantly after the repayments, considering the difference in BTC’s price now compared to the time of the exchange hack.

Bitcoin saw a massive rally earlier this week, breaking past the $70,000 mark and coming within striking distance of its all-time high of $73,800. BTC has since pulled back and is currently trading at $69,268.

The above is the detailed content of Mt. Gox Postpones Deadline to Repay Creditors as Bitcoin, Associated With the Collapsed Crypto Exchange, Moves Again. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Bitcoin (BTC) Primed to Break through ATH Regardless of US Election Results, Say Crypto Options Traders Bitcoin (BTC) Primed to Break through ATH Regardless of US Election Results, Say Crypto Options Traders Oct 24, 2024 pm 04:26 PM

As the US presidential elections inch closer, a slight change in tone can be observed among crypto options traders regarding its implications on the

Bitcoin Long-Term Holders Have Just Sold Over 177,000 Tokens, Here's What This Could Mean for BTC's Price Bitcoin Long-Term Holders Have Just Sold Over 177,000 Tokens, Here's What This Could Mean for BTC's Price Nov 06, 2024 pm 12:58 PM

On-chain data shows the Bitcoin long-term holders have started a phase of distribution recently. Here's what this could mean for BTC's price.

Bitcoin Price Forecast: $100K Rally in Sight as Whales Load Up, Trump Touts DOGE Bitcoin Price Forecast: $100K Rally in Sight as Whales Load Up, Trump Touts DOGE Nov 15, 2024 am 12:16 AM

As seen above, Bitcoin recorded 5,095 whale transactions worth at least $1 million each on November 12. This represents a 396% increase from the

Bitcoin (BTC) Exchange Reserves Drop to November 2018 Lows, Raising Liquidity Concerns Bitcoin (BTC) Exchange Reserves Drop to November 2018 Lows, Raising Liquidity Concerns Nov 17, 2024 am 09:58 AM

Bitcoin's (BTC) exchange reserves have dropped to their lowest level since November 2018, reflecting a significant shift in market dynamics.

Cryptocurrency Market Overview: Bitcoin Dominance Falls as XinFin Network Emerges as Top Gainer Cryptocurrency Market Overview: Bitcoin Dominance Falls as XinFin Network Emerges as Top Gainer Nov 17, 2024 pm 06:52 PM

The total cryptocurrency market cap is currently $3.08T after a 0.22% increase on the day. Bitcoin is trading at $90,501 after seeing a -0.94% loss in the last 24 hours.

Bitcoin (BTC) Price Prediction & Trends Today October 23, 2024 Bitcoin (BTC) Price Prediction & Trends Today October 23, 2024 Oct 23, 2024 pm 10:04 PM

The current price of Bitcoin (BTC) today is $66,429.0 as of 11 AM. As if Wednesday, BTC price hit a daily high of $67,740.0 today after sliding -1.34% on October 23.

Bitcoin Drops Below $67k, Memecoins Gain Strength Amidst Market Uncertainties Bitcoin Drops Below $67k, Memecoins Gain Strength Amidst Market Uncertainties Oct 23, 2024 am 04:22 AM

Today, on October 22nd, 2024, the crypto market saw a small drop, amid geopolitical tensions and electoral uncertainties in the United States.

Echo Lending TVL Surges to $210M, Becoming the Best Weekly and Monthly Performer Among Aptos-Based DeFi Apps Echo Lending TVL Surges to $210M, Becoming the Best Weekly and Monthly Performer Among Aptos-Based DeFi Apps Oct 29, 2024 am 03:26 AM

Echo Lending, a Bitcoin-oriented yield protocol on Aptos, saw its total value locked (TVL) surge to a record $210 million on Friday, October 25