Mt. Gox transfers $1B in Bitcoin in third major BTC move this month

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Coin Telegraph 1d ago

Mt. Gox transfers $1B in Bitcoin in third major BTC move this month - Coin Telegraph

Quick Summary:

After its bankruptcy in February 2014, a Tokyo court appointed a trustee to manage the bankruptcy proceedings and compensate creditors with the exchange’s assets.Related: Mt.Gox moves $2.2B of Bitcoin, adding to BTC selling pressureHowever, last October, the trustee in charge of the exchange’s Bitcoin stash extended the deadline, pushing it by a full year to Oct.31, 2025, claiming many creditors “still have not received their repayments because they have not completed the necessary procedures for receiving repayments.”Last December, Mt.

Spot On Chain speculates the 893 Bitcoin “sent to the warm wallet will be moved out shortly too.”Source: Spot On ChainArkham data shows the exchange still holds about 35,000 Bitcoin worth $3.1 billion across wallets it controls.

Blockchain analytics firm Arkham Intelligence alerted the community of the transfer on March 25 on X, revealing the Japanese exchange had sent 893 Bitcoin (BTC) worth around $78 million at current prices to the Mt.