Mt. Gox Transfers Over $739 Million in Bitcoin Ahead of Deadline
- Mt. Gox moved a total of 10,422.65 BTC, valued at approximately $739 million, to a new wallet on Tuesday.
- The transaction was recorded on Bitcoin block 952,072, with 10,306.35 BTC sent to an unseen address and 116.30 BTC routed to its known hot wallet.
- Currently, Mt. Gox holds around 34,504 BTC, worth about $2.43 billion, the largest unresolved holding from any failed crypto exchange.
- Creditor repayments began in mid-2024, with approximately 19,500 creditors having received funds so far.
- The deadline for completing these repayments has been extended to October 31, 2026, due to incomplete creditor procedures.
- This transfer occurs amid a decline in Bitcoin prices, which recently fell below $71,000.
The movement of such a significant amount of Bitcoin by Mt. Gox highlights the urgency as the October deadline approaches for creditor repayments and reflects ongoing market volatility impacting Bitcoin prices.
With a transfer of over $739 million, Mt. Gox continues to manage its substantial holdings as it prepares for future distributions to creditors.(Source)
