Mt. Gox Moves Nearly $2.7 Billion in Bitcoin, Including 47,229 BTC, Ahead of Repayments

Jul 16, 2024, 06:59 AM

Mt. Gox, the defunct cryptocurrency exchange, has made significant movements of Bitcoin as it prepares for anticipated repayments to creditors. The exchange transferred nearly $2.7 billion worth of Bitcoin to unknown addresses, including a test transfer of 0.021 BTC. Additionally, 44,527 BTC, valued at approximately $2.84 billion, was moved to an internal wallet. Another 47,229 BTC and 526.952 BTC, worth approximately $33.63 million, were also transferred to unmarked addresses. These transactions are part of the preparations to repay around $9 billion to creditors. The large movements have caused selling pressure on Bitcoin, leading to a dip in its price.