Summary:
Mt. Gox moved 27,871 Bitcoin worth $2.8 billion amidst pending compensation claims.
The payout timeline for creditors has been extended to October 31, 2025.
Bitcoin trading at around $103,000, showing a 4% increase over 24 hours.
Mt. Gox's Bitcoin Movement Raises Eyebrows
A wallet associated with Mt. Gox has recently transferred 27,871 Bitcoin, valued at approximately $2.8 billion, with over 24,000 BTC sent to an unidentified address, according to data from Arkham Intelligence. This transfer coincided with Bitcoin's rise to the historic $100,000 mark.
Key Takeaways
- Mt. Gox moved 27,871 Bitcoin worth $2.8 billion amidst pending compensation claims.
- The payout timeline for creditors has been extended to October 31, 2025.
Currently, Mt. Gox retains approximately 39,878 BTC, valued at $4.1 billion in its wallet. This latest transfer follows a previous movement of 2,500 Bitcoin (worth about $222 million) to an unknown address on November 12. These activities are part of Mt. Gox's efforts to resolve outstanding compensation claims from former users.
The exchange has extended its payout timeline from October 31, 2024, to October 31, 2025, citing ongoing verification and processing requirements for claimants. While some creditors have received fiat currency payments, many are still awaiting full compensation in Bitcoin or Bitcoin Cash.
Despite historical market sensitivity to Mt. Gox's Bitcoin movements, recent transfers have shown minimal impact on Bitcoin prices. However, concerns remain that an eventual full compensation distribution could affect market prices if creditors choose to sell their holdings.
As of press time, Bitcoin was trading at around $103,000, reflecting a 4% increase over the past 24 hours.
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