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Mt. Gox Moves $3B Bitcoin to New Wallet, $130M to Bitstamp Exchange
The defunct crypto exchange has moved billions of dollars worth of bitcoin over two days.
Updated Jul 24, 2024, 5:58 p.m. Published Jul 24, 2024, 8:21 a.m.
- Defunct crypto exchange Mt. Gox moved billions of dollars worth of bitcoin between wallets and sent $130 million to Bitstamp.
- The cryptocurrency movements echo those of yesterday as Mt. Gox repays customers hit by a hack 10 years ago.
- Payments started early this month and Mt. Gox still has more than $6 billion of BTC to distribute.
Defunct bitcoin exchange Mt. Gox moved a fresh batch of the asset to new wallets on Wednesday, tempering chances of a price rally as sentiment remained dented.
Arkham data shows Mt. Gox moved 37,400 BTC, worth $2.5 billion, from its main wallet to a new wallet "12Gws9E," and another $300 million to an existing cold wallet. It then moved another $300 million to wallet “1MzhW,” of which $130 million was sent to crypto exchange Bitstamp. BTC prices remained steady.
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Mt. Gox is sitting on $6 billion worth of BTC, down from $9 billion on July 10. BTC has largely remained steady between $66,000 and $67,000 during the period.
These movements mirrored those of Tuesday, when Mt. Gox moved $130 million to Bitstamp and shuffled $2.5 billion between wallets. Several creditors on crypto exchange Kraken also reported receiving bitcoin repayments for the first time in their personal accounts in U.S. hours.
In early July, the defunct exchange began repaying creditors hit by a 2014 hack. Over $9 billion worth of BTC and $73 million of bitcoin cash will be distributed to traders in the coming months.
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