Kraken has confirmed that it received Bitcoin (BTC) and Bitcoin Cash (BCH) from the Mt. Gox trustee. The crypto exchange plans to deposit these funds into creditors’ accounts within 7-14 days.
Several Mt. Gox creditors have reported receiving emails from Kraken, which stated that the exchange successfully received the funds. Over the past few hours, Mt. Gox moved 95,869.97 BTC, valued at $6.06 billion, to two separate addresses.
This development is significant as it marks a major step towards repaying the creditors of the defunct Mt. Gox exchange. The BTC price currently trades at $63,800, showing resilience despite the impending repayments.
The quick turnaround in fund transfers by Kraken highlights the efficiency and reliability of the exchange in handling large-scale operations. The repayment is expected to be completed by the end of July, showcasing the ongoing efforts to resolve one of the crypto industry’s longest-standing issues.
This event underscores the strategic importance of trust and accountability in the cryptocurrency sector, potentially restoring confidence among users and investors.
