Mt. Gox Moves $9.6 Billion in Bitcoin, Causing 2% Dip Amid Repayment Plan

May 28, 2024, 06:00 AM

Mt. Gox, the defunct cryptocurrency exchange, has moved a significant portion of its Bitcoin holdings for the first time in over five years. Approximately $9.6 billion worth of Bitcoin, totaling 141,686 BTC, has been transferred to new addresses, including a transfer of 12.24K BTC worth $843.59 million. This move is part of the exchange's plan to repay creditors, with the repayment deadline set for October 31, 2024. Additionally, Mt. Gox has also moved 142,846.22 BCH to new addresses, totaling approximately $67.9 million. The transfers have caused a notable impact on the market, with Bitcoin prices dipping by 2% following the news.