Mt. Gox Moved Bitcoin Worth $2.8 Billion in the Last 6 Hours

Bitstamp Initiates Bitcoin Repayments to Mt. Gox Creditor Bitstamp Initiates Bitcoin Repayments to Mt. Gox Creditor

Mt. Gox, a Japanese crypto exchange, continued its Bitcoin payment plan to creditors today. According to on-chain data from Arkham Intelligence, Mt. Gox moved Bitcoin worth $2.805 billion in four hours.

Mt. Gox continues its Bitcoin payment plan 

Earlier today, the exchange transferred 37,477 Bitcoin, worth $2.5 billion at current prices, to an unknown wallet address (12Gws9…jTau9u). The amount was transferred to a new address at 4:53 am UTC on July 24.

Mt. Gox BTC Transactions (Source: Arkham Intelligence)
Mt. Gox BTC Transactions (Source: Arkham Intelligence)

Out of the 37.477K BTC moved, 5,106 BTC of it was sent to a separate cold wallet owned by Mt. Gox. The movement comes after the exchange moved $2.8 billion in BTC to several wallets on July 22.  Bitstamp received $340 million sent to four wallets.

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Mt. Gox has moved 5,106 Bitcoins, valued at $335.76 million, to Bitstamp and an unidentified address. Bitstamp is one of the five exchanges working with the Mt. Gox trustee to return stolen crypto to creditors.

Mt. Gox BTC Transactions (Source: Arkham Intelligence)
Mt. Gox BTC Transactions (Source: Arkham Intelligence)

Data from Arkham Intelligence shows that Mt. Gox moved 2,237 BTC, worth $147 million, to Bitstamp and 2,869 BTC to an unknown address. Payments made today bring creditor repayments to 40% of the total owed amount.

Now, Mt. Gox has 90.344K BTC left to distribute, worth $6 billion at current prices.  Data from CoinGecko shows BTC  trading at $66,305.69, which is a 0.9% decline in the last 24 hours.

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