Mt. Gox transferred over 24,000 Bitcoin (BTC), valued at approximately $2.5 billion, to an unidentified address after Bitcoin surpassed the $100,000 mark.
According to Arkham Intelligence, a transaction involving 24,051 BTC was sent to a previously inactive address that begins with “1N7j” at 2:45 AM UTC on December 5. This transfer occurred just 12 minutes after Bitcoin reached the milestone price of $100,000 and less than 30 minutes before the price peaked at $104,000, according to TradingView data.
Mt. Gox has completed its first Bitcoin transfer since November, moving 32,371 BTC from its wallets. Of this amount, 30,371 BTC was sent to an unidentified wallet, while 2,000 BTC was initially transferred to a cold wallet before being redirected to another address. Additionally, there was a transaction involving the transfer of over 500 BTC to two unidentified wallet addresses. Despite these activities, Mt. Gox still holds 39,878 BTC, valued at approximately $4.1 billion, according to a report from Arkham Intelligence.
Due to incomplete receipt procedures, the trustee managing Mt. Gox extended the repayment deadline for creditors to October 31, 2025. Creditors have been awaiting repayments since the exchange’s collapse in 2014 and can receive their repayments in Bitcoin.
This latest transfer follows Mt. Gox’s long-awaited initiation of creditor repayments earlier this year. On July 5, 2024, the defunct exchange began disbursing funds to users who met the conditions outlined in its rehabilitation plan, including account verification and compliance with intermediary agencies overseeing the process. Payments were reportedly made in Bitcoin (BTC) and Bitcoin Cash (BCH) through designated cryptocurrency exchanges. Some creditors confirmed successful repayments on Reddit’s r/mtgoxinsolvency forum. One user shared that they are receiving funds via the Bitbank exchange. At the same time, another provided an email from Mt. Gox confirming that credits had been processed through a Japan-based intermediary and finalized upon blockchain confirmation.
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