Mt. Gox Moves 47,500 Bitcoin to Wallets

Mt. Gox has made another transfer, 47,500 Bitcoin, to two unknown wallets. Arkham Intelligence data shows that Mt. Gox has 90,344 Bitcoin, equal to $6.02 billion.

Bankrupt cryptocurrency exchange Mt. Gox has moved 47,500 Bitcoin (BTC) to two unidentified wallets. The transfers, which occurred at 5:05 a.m. and 6:27 a.m. UTC, are part of the exchange's plan to repay its creditors.

Mt. Gox, once the world's largest cryptocurrency exchange, collapsed in 2014 after losing 850,000 BTC to a hack. The exchange's bankruptcy proceedings have been ongoing since then, with creditors finally set to receive their first repayments this year.

According to data from Arkham Intelligence, Mt. Gox had 90,344 BTC, currently valued at $6.02 billion, before the latest transfers. However, its current holdings now stand at 42,744 BTC, valued at $2.85 billion.

As per the exchange's repayment statement on July 5, Mt. Gox will begin repaying creditors who opted for an early lump-sum repayment. These repayments will be processed through seven tranches over five years.

The latest transfers appear to be part of these early repayments, with the exchange using Bitstamp to facilitate some of the transactions. The “Mt. Gox: The “Cold Wallet (1Jbez)” wallet transferred 5,110 BTC to an unknown wallet and to Bitstamp.

Of the 5,110 BTC, 2,871, valued at $191 million, were transferred to an anonymous wallet starting with 1JKMS. The remaining 2,239 BTC, valued at $149 million, were transferred to Bitstamp.

The exchange had previously transferred 42,587 BTC, equivalent to $2.85 billion, to another unknown address, labeled 15yPU, on August 15.