Mt. Gox Transfers 107,547 BTC Worth $7.3B, Initiates $9B Disbursement

May 28, 2024, 03:04 AM

The defunct cryptocurrency exchange Mt. Gox has begun transferring significant amounts of Bitcoin for the first time in over five years. Approximately 107,547 BTC, valued at $7.3 billion, has been moved to unknown wallets. This movement is part of a larger effort to distribute $9 billion worth of Bitcoin to creditors. Nearly 42,000 BTC worth $2.9 billion and another 26,000 BTC have also been transferred. Additionally, Mt. Gox has unstaked 3.96 million SOL, transferring 750,000 SOL to Binance and Kraken. The repayment deadline for creditors is October 31, 2024. These transfers have caused Bitcoin prices to dip by 2%.