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$2 Billion Mt. Gox Bitcoin Wallet Moves, Signals Final Distribution

Aug 13, 2024, 01:01 PM

A significant movement of Bitcoin has been detected from a wallet associated with the defunct Mt. Gox exchange. On August 13, 2024, reports indicate that a wallet holding $2.19 billion worth of Bitcoin, identified by the address starting with bc1q26, has initiated test transactions. This wallet is believed to be linked to BitGo, the fifth and final exchange working with the Mt. Gox Trustee to distribute funds to creditors. The activation of this wallet, which involves $2 billion, could indicate the commencement of the final distribution phase to Mt. Gox creditors. Arkham Intel and various crypto news outlets have reported on this development, highlighting the potential conclusion of a long-standing process to reimburse those affected by the Mt. Gox collapse.