Mt. Gox Transfers $739 Million in Bitcoin Amid Ongoing Creditor Repayments
- Mt. Gox moved approximately $730.8 million by transferring 10,306 Bitcoin (BTC) from its cold wallet to an unmarked address.
- The transfer occurred at 4:47 am UTC and marks the first on-chain movement in over two months.
- In addition, Mt. Gox transferred 116.3 BTC worth around $8.25 million to its hot wallet.
- The exchange still holds 34,504 BTC, valued at roughly $2.41 billion across its wallets.
- Creditor repayments began in July through partner exchanges Kraken and Bitstamp, but have faced delays.
The recent large transfer has raised concerns regarding potential market impacts as creditors may sell their assets upon receiving their funds after waiting over a decade for repayment.
With Mt. Gox’s remaining holdings of 34,504 BTC, the ongoing situation remains critical for both creditors and the broader market dynamics.(Source)
