Defunct Bitcoin Exchange Mt. Gox's Transfer of BTC Makes Waves

The defunct Bitcoin exchange, Mt. Gox, recently made headlines by transferring more than 140,000 bitcoins, valued at approximately $9 billion, to an undisclosed address in thirteen transactions. This transfer is believed to be a step towards repaying creditors by October 31, 2024.

Market reactions were immediate, with the BTC price dropping by 1.5% in response to this significant movement. These transactions mark the first activity of assets from Mt. Gox's cold wallets in over five years.

Julio Moreno, the Head of Research at CryptoQuant, noted continuous outflows from Mt. Gox addresses, with approximately 42,829 Bitcoins relocated in the past few hours. These coins were all shifted to a new address, likely indicating that they will be held by creditors rather than being sold on the open market.

Hackers Target Japanese Crypto Exchange, Steal 48 Billion Yen

In recent news, a Japanese cryptocurrency exchange named DMM Bitcoin disclosed the loss of over 48.2 billion Yen worth of digital assets due to an unauthorized breach. Despite this setback, the company has committed to compensating customers for their lost Bitcoin deposits with the assistance of other group entities.

Wu Blockchain additionally reported this incident, along with DMM Bitcoin's plans to reimburse affected customers in the future. If confirmed, this hack would be among the largest in the history of cryptocurrency exchanges, joining the ranks of infamous breaches such as Coincheck's $534 million hack, Upbit's $45 million breach, and KuCoin's $204 million theft.

To manage the fallout, DMM Bitcoin has temporarily suspended various services, including new account creations, withdrawal procedures, spot trading purchase orders, and leveraged trading.

TRUMP Token Experiences Volatility Post Donald Trump's Conviction

Following his conviction on 34 felony counts, former President Donald Trump faces potential imprisonment or probation. In response, the prices of TRUMP-related tokens fluctuated significantly, with the MAGA token recovering after an initial drop and the Super Trump token continuing to decline.

Trump criticized the trial's outcome, alleging unfair influence and vowing to maintain his fight for innocence. Amidst the market fluctuations, a significant investor purchased a substantial amount of MAGA tokens during the dip caused by Trump's conviction and is currently in a profitable position.