- Mt. Gox started getting ready to repay creditors using Bitstamp on July 22.
- The most recent transfer brings the total to more than $12B sent to creditors since July 16.
On July 23, Mt. Gox started transferring funds again, this time sending over $3.2 billion worth of 47,500 Bitcoin to two anonymous addresses. Arkham Intelligence claims that Mt. Gox has 90,344 Bitcoins (BTC) valued at $6.02 billion; however, this information is out of date; the actual value of Mt. Gox’s assets are likely closer to 42,744 BTC, or $2.85 billion.
Plans to “promptly” pay creditors seem to be well under way after the collapsed exchange issued a repayments statement on July 5. A wallet identified as “Mt. Gox: Cold Wallet (1Jbez)” from Mt. Gox transferred 5,110 BTC, or about $340 million, to an unidentified wallet and the Bitstamp crypto exchange.
Substantial BTC Movements
Bitstamp received $149 million of the 5,110 BTC, while an unknown address beginning with 1JKMS received 2,871 BTC, valued at around $191 million. Earlier, another unidentified address received 42,587 BTC, which is equivalent to $2.85 billion.
According to onchain fund holding movements, Mt. Gox started getting ready to repay creditors using Bitstamp on July 22. Arkham Intelligence reports that four different Bitstamp addresses were “deposited $1” by Mt. Gox. The Mt. Gox Trustee is collaborating with five exchanges, one of which being Bitstamp.
A Reddit survey contradicts the speculations of financial experts, who claim that 99% of creditors will sell their coins “the moment” they got them.
The most recent $3.2 billion in Bitcoin sent out of the Mt. Gox address brings the total to more than $12 billion sent to creditors since July 16. After two weeks of onchain inactivity, the defunct exchange experienced a major shift on July 16 with transfers of over 140,000 BTC.
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