Mt. Gox executes another significant Bitcoin movement, transferring 11,501 Bitcoin worth over $1B.
New Transfers by Mt. Gox
According to Arkham Intelligence, the crypto exchange Mt. Gox transferred 11,501 Bitcoin in its third major transaction within the past month. Of these, 893 Bitcoin were sent to the exchange's cold wallet (1Jbez), while the remaining 10,608 Bitcoin were sent to another wallet (1DcoA).
Bitcoin Movements for Creditor Compensation
Mt. Gox, declared bankrupt after losing 850,000 Bitcoin, is making payouts to creditors. To date, creditors have the option to receive their payouts in Bitcoin. A poll conducted in July 2024 showed that 56% of creditors plan to retain their digital asset payouts.
Mt. Gox Bankruptcy History
Cryptocurrency exchange Mt. Gox went bankrupt in 2014 following the largest Bitcoin theft. Before the incident, it was the leading exchange, handling 70–80% of all Bitcoin transactions. A Tokyo court appointed a trustee to manage assets and compensate creditors.
Mt. Gox's Bitcoin transfers are significant within the crypto community, with creditor payouts being managed through Japan's legal system.
