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Mt. Gox Moves $2.85B in Bitcoin for Creditor Repayments, Including Transfers to Kraken and Bitstamp

Jul 23, 2024, 08:08 AM

Mt. Gox, the defunct cryptocurrency exchange, has initiated significant Bitcoin transfers as part of its long-awaited repayment process to creditors. On July 23, Mt. Gox moved 42,587 BTC, valued at approximately $2.85 billion, to new wallets. Of this amount, 5,110 BTC ($340 million) was transferred to an internal wallet, and 37,477 BTC ($2.51 billion) was sent to a new address. Additionally, $130 million worth of Bitcoin was sent to Bitstamp. This movement is part of a broader effort to distribute funds to creditors, with exchanges like Kraken and Bitbank also involved in the process. Reports indicate that some creditors have started receiving their funds on Kraken. The total amount moved by Mt. Gox since July 5 stands at 52,549 BTC ($3.31 billion).