The bankruptcy of Mt. Gox Bitcoin exchange in 2014 became news again this month because the platform moved more than $1 billion worth of Bitcoin. During March 25 the exchange relocated 11,501 Bitcoin which became its third substantial Bitcoin transfer within a month.
According to blockchain analytics firm Arkham Intelligence, the transaction included 893 Bitcoin worth around $78 million sent to Mt. Gox’s cold wallet and another 10,608 Bitcoin, valued at roughly $929 million, transferred to the Mt. Gox change wallet.
This follows two earlier transfers this month: 12,000 Bitcoin on March 6, and 11,833 Bitcoin on March 11. One of these transfers even ended up at the Bitstamp exchange, fueling speculation that some of these Bitcoins could soon be sold.Â
Arkham Intelligence data shows Mt. Gox still controls about 35,000 Bitcoin, worth around $3.1 billion. The sudden moves have raised eyebrows, with many speculating that Mt. Gox might be preparing to repay its creditors.
The victims who lost their money in the biggest recorded crypto hack can choose Bitcoin as payment for their reimbursement. A July 2024 Reddit poll indicates creditors have no rush to sell the funds they received from Mt. Gox.
Many people continue to wait for their repayments from Mt. Gox as its bankruptcy proceedings stretched until October 2025. The pending transfers may mark the beginning of the long-anticipated creditor payments. Only time will tell.
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