Mt. Gox Has Once Again Transferred Billions of Dollars Worth of Bitcoins

On July 24 the defunct Japanese crypto exchange Mt. Gox transferred 37,477 BTC, equivalent to $2.5 billion at the time of the transaction, to an unknown crypto address.

According to Arkham Intelligence, a blockchain analytics company, out of the total amount, 5,106 BTC were additionally transferred to another cold wallet owned by Mt. Gox.

This transaction took place after the exchange transferred $2.8 billion in BTC to various wallets on July 22. Of that, $340 million was sent to four wallets linked to the Bitstamp crypto exchange.

According to CryptoQuant, aroud 40% of the amounts owed to Mt. Gox’s creditors have been paid at the time of publication. This indicates that 60%, or $5.6 billion, is still in the process of being distributed to creditors.

36% of the Mt. Gox Bitcoin has been distributed to creditors

“The trustee holds 141,686 $BTC , which will be distributed over time. With yesterday’s transaction, 36% of the Bitcoin has been moved to their former users.” – By @JA_Maartun

Link 👇 https://t.co/SwU1ufNoQr pic.twitter.com/LMUBPrZBPN

— CryptoQuant.com (@cryptoquant_com) July 17, 2024