Hassan Maishera
TL;DR
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The defunct crypto exchange Mt. Gox has moved another 27,871 BTC to an unmarked wallet.
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The crypto exchange still holds 39,878 BTC.
Mt.Gox Moves $2.8B Worth of Bitcoins
On Wednesday, the bankrupt crypto exchange Mt. Gox transferred 27,871 BTC to an unmarked wallet. This is according to Arkham Intelligence. The address labeled as Mt. Gox (1FHOD) by analytics firm Arkham Intelligence moved 27,871 BTC worth $2.8 billion to another address: 1N7jWmv63mkMdsYzbNUVHbEYDQfcq1u8Yp.
This latest development is the exchange’s first large transfer since November 12. At the moment, it remains unclear whether the transfer is part of Mt. Gox’s future distributions to creditors.
The defunct cryptocurrency exchange previously distributed repayments via centralized exchanges such as Kraken and Bitstamp. The repayments had negatively affected Bitcoin’s price in the past, and traders might be looking to see if Mt.Gox sends the Bitcoins to a centralized exchange.
This move comes as Bitcoin’s price surpassed $100k for the first time in history, hitting a new all-time high of $103,900. Bitcoin added roughly 7% to its value on Wednesday to break the $100k barrier, with investors hoping for more upward rally in the near term.
Mt.Gox was launched in 2010 and was the largest crypto exchange in the world prior to its collapse. The exchange suffered a major security breach in 2014, losing 850,000 bitcoins to the attackers. So far, the Mt.Gox has settled most of its creditors, with many still waiting for their bitcoins.
