Mt. Gox Abruptly Moves $936,000,000 in Bitcoin (BTC) After Eight Months of Inactivity: Lookonchain
The defunct crypto exchange Mt. Gox just transferred a huge amount of Bitcoin (BTC).
According to the blockchain analytics platform Lookonchain , Mt. Gox moved 10,423 BTC, its first large transaction since moving a total of over $2 billion in BTC eight months ago.
“After 8 months of inactivity, Mt. Gox just transferred 10,423 $BTC ($936M) to a new wallet.”
Data from the crypto intelligence platform Arkham Intel shows Mt. Gox also made a series of other transfers totaling over $16.8 million after completing the transaction. The bankrupt firm’s Bitcoin wallet now holds 34,689 BTC worth around $3.2 billion.
Mt. Gox used to handle over 70% of Bitcoin’s trading volume but it eventually ceased operation and filed for bankruptcy protection after the platform was hacked.
The exchange started paying back its creditors in July 2024 and by October 2024, declared that it has “largely completed the Base Repayment, Early Lump-Sum Repayment, and Intermediate Repayment” for creditors who have completed the necessary procedures and have not encountered issues during the repayment process .
According to a statemen t published in Mt. Gox’s website last month, the repayment deadline will be extended until October 31st, 2026 to accommodate other rehabilitation creditors.
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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