- Mt Gox moved around 12,000 BTC as the Bitcoin price regained the $92K mark.
- The exchange still holds 36,080 Bitcoins and its deadline for fund returns extended to Oct 31, 2025.
Mt Gox moved around 12,000 Bitcoins today to different wallet addresses. Since its bankruptcy filing in 2014, several creditors are awaiting their repayments. As per its announcement in October 2024, the repayment deadline extended to October 31, 2025.
As per on-chain data tracker Lookonchain, Mt Gox moved 11,834 Bitcoins worth $1.07 billion to a new wallet. At around the same time, it transferred another $166.5 Bitcoins worth $15.05 million to a cold wallet. The two transactions only cost $1.64 or 0.00001808 BTC.
The Mt Gox exchange became one of the top crypto exchanges in its early years of operation. However, it went bankrupt in 2014 and still needs to pay huge amounts of repayment to its creditors. As per the Arkham Intelligence platform, the defunct exchange still holds 36,080 Bitcoin holdings worth $3.31 billion. It is unclear if the present BTC transactions are repayments or unusual fund transfers.
Mt Gox Moved Funds as BTC Regained $92K
The Bitcoin market price has been facing volatility for the past few weeks. After a steady recovery, it is now trading at $92,368.27 with an 8.56% surge. The defunct exchange made BTC transfers when its market price just crossed the $90K mark earlier today.
When Bitcoin hit a milestone of $100K, Mt Gox transferred $2.43 billion to unknown wallet addresses. Even though the exchange made repayments in fiat currency for some creditors, it needs to repay funds in BTC and BCH for the remaining creditors. Thus, a surge in the BTC price is beneficial for repayments.
Highlighted Crypto News Today:
Monthly Market Insights Report by Binance Research Highlights Key Trends and Developments
