TLDR
- Mt. Gox moved 10,608 BTC to an unmarked wallet and its hot wallet late on Monday night.
- The transfer involved 10,422 BTC sent to an unmarked address and 185.5 BTC to Mt. Gox’s own wallet.
- This bitcoin movement has previously been linked to upcoming creditor repayments from Mt. Gox.
- Mt. Gox has been repaying creditors since July 2024 as part of its bankruptcy rehabilitation process.
- The exchange still holds 34,689 BTC, worth approximately $3.1 billion, for creditor repayment.
Mt. Gox, the defunct cryptocurrency exchange, moved 10,608 BTC on Monday night, according to Arkham Intelligence data. The Bitcoin was split across two addresses, with 10,422 BTC sent to an unmarked address and 185.5 BTC transferred to its hot wallet.
Bitcoin Movement Linked to Mt. Gox’s Repayments
The recent Bitcoin transfer sparked speculation that it could be linked to repayments. Mt. Gox has been repaying creditors since filing for bankruptcy in 2014. The exchange has faced delays in distributing funds, with the next deadline now set for October 2026.
“The transfer may be an early step in future distributions,” said Arkham Intelligence. However, it remains unclear whether this move is part of a planned repayment process. Past bitcoin movements from Mt. Gox have preceded creditor repayments, but there has been no official confirmation.
Mt. Gox’s holdings include a total of 34,689 BTC, worth about $3.1 billion. These funds are part of its ongoing bankruptcy settlement process, which has been delayed multiple times. The exchange had previously announced that it would extend the repayment deadline to 2026.
Mt. Gox’s Ongoing Bankruptcy Process
Mt. Gox, once the largest bitcoin exchange, filed for bankruptcy protection after a 2014 hack. At that time, the exchange lost roughly 850,000 BTC. Since then, the exchange has been working through a lengthy bankruptcy rehabilitation process.
In July 2024, Mt. Gox started repaying creditors from its remaining bitcoin holdings. The process has been slow, with some creditors receiving funds via exchanges such as Kraken and Bitstamp. Despite the delays, Mt. Gox continues to hold a substantial amount of bitcoin.
The exchange has a total of 142,000 BTC, Bitcoin Cash, and Japanese yen remaining for repayment. The latest transfer is likely to be part of this ongoing process. However, with the new repayment deadline, creditors may need to wait further before receiving full reimbursement.
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