Mt. Gox Has Once Again Transferred Billions of Dollars Worth of Bitcoins

On July 24 the defunct Japanese crypto exchange Mt. Gox transferred 37,477 BTC, equivalent to $2.5 billion at the time of the transaction, to an unknown crypto address.

According to Arkham Intelligence, a blockchain analytics company, out of the total amount, 5,106 BTC were additionally transferred to another cold wallet owned by Mt. Gox.

This transaction took place after the exchange transferred $2.8 billion in BTC to various wallets on July 22. Of that, $340 million was sent to four wallets linked to the Bitstamp crypto exchange.

READ MORE:

All of the Old Cryptos Will Come to Wall Street – Anthony Pompliano

According to CryptoQuant, aroud 40% of the amounts owed to Mt. Gox’s creditors have been paid at the time of publication. This indicates that 60%, or $5.6 billion, is still in the process of being distributed to creditors.

36% of the Mt. Gox Bitcoin has been distributed to creditors

“The trustee holds 141,686 $BTC, which will be distributed over time. With yesterday’s transaction, 36% of the Bitcoin has been moved to their former users.” – By @JA_Maartun

Link 👇https://t.co/SwU1ufNoQr pic.twitter.com/LMUBPrZBPN

— CryptoQuant.com (@cryptoquant_com) July 17, 2024

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.