Key Insights
- Mt. Gox, the defunct cryptocurrency exchange, has transferred approximately $75.36 million worth of bitcoin to Bitstamp’s wallet address.
- This transfer suggests that another payout to the creditors of the failed exchange may be imminent, as Bitstamp is one of the exchanges nominated by the Mt. Gox trustee to facilitate the distribution of bitcoin repayments.
TOKYO (MarketsXplora) – In a significant development, the now-defunct Mt. Gox cryptocurrency exchange appears to have transferred approximately $75.36 million worth of bitcoin to the wallet address of Bitstamp, a leading cryptocurrency exchange. This move suggests that another payout to creditors of the failed exchange may be imminent.
According to data from blockchain analytics firm Arkham, a total of 1,264.69 BTC was transferred from Mt. Gox’s cold wallet address “1Jbez…LAPs6” to the wallet address “3HXo1…wsuXH,” which Arkham has identified as belonging to Bitstamp. The transfer took place around 8:49 a.m. UTC.
Furthermore, Arkham’s data reveals that Mt. Gox’s cold wallet had received a substantial amount of bitcoin, approximately 12,000 BTC ($709.44 million), from another Mt. Gox wallet, “1MUQE…5SXZZ,” just last night. The destination of this large transfer remains unknown.
Bitstamp is one of the centralized cryptocurrency exchanges that the Mt. Gox trustee has nominated to facilitate the distribution of bitcoin repayments to the defunct exchange’s creditors. Several other exchanges, including Kraken, have already made similar repayments to the affected users.
The Mt. Gox exchange, established in 2010 in Japan, was once the largest bitcoin exchange in the world. However, the platform was subjected to a devastating hack in 2014, resulting in the loss of at least 850,000 BTC, a catastrophic event that ultimately led to the exchange’s downfall.
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