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Cryptocurrency News Articles
Mt. Gox Shuffles $2.4B Bitcoin Between Wallets as BTC Hovers Near $82K
Nov 11, 2024 at 03:01 pm
Trustees transferred over 30,000 BTC from “1FG2C…Rveoy” to “1Fhod…LFRT,” a new wallet, and $200 million to a Mt. Gox cold wallet.
bankrupt crypto exchange Mt. Gox moved $2.4 billion in bitcoin (BTC) to two wallets on Monday, as reported by Arkham.
The world's largest cryptocurrency crossed $81,000 over the weekend for the first time since March.
Trustees transferred over 30,000 BTC from “1FG2C…Rveoy” to “1Fhod…LFRT,” a new wallet, and $200 million to a Mt. Gox cold wallet.
“1FG2C…Rveoy” was the largest receiver of BTC in a Mt. Gox wallet movement last week.
Such wallet transfers are usually a consolidation of holdings to new addresses before they are sent to crypto exchanges, where the bitcoin is sold on the open market.
Once the world's top crypto exchange, Mt. Gox handled over 70% of all bitcoin transactions in its early years.
Hackers attacked the exchange in early 2014, losing an estimated 740,000 bitcoin (more than $15 billion at current prices). The hack was the biggest of the many attacks on the exchange in the years 2010-13.
Trustees have put together a repayment plan that has a deadline of October 31, 2025, per the latest filings.
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