Mt. Bitcoin exchange, which crashed in 2014. Gox transferred at least 42,830 BTC worth approximately $2.9 billion from its cold wallets. According to data from Arkham Intelligence, this was the first transfer in five years.
Mt. Gox Made $2.9 Billion Bitcoin Movement for the First Time in Five Years
According to Arkham, Mt. This move is significant as Gox still holds approximately $9.42 billion worth of Bitcoin in its tracked wallets.
Mt. Gox was launched in 2010 and quickly rose to become the largest Bitcoin exchange by 2013, handling 70% of all Bitcoin transactions worldwide.
However, the exchange stopped all withdrawals in early 2014 due to a suspension of transactions. The platform then went offline and the company filed for bankruptcy protection after losing more than 800,000 Bitcoins.
In September 2023, Mt. Gox's trustee announced that the repayment period has been extended by 12 months to October 31, 2024. This extension gave creditors more time to prepare for the final repayment process.
Mt. Gox's trustee has not yet responded to a request for comment regarding the latest Bitcoin transfer. The reasons behind this significant transfer remain unclear, leading to speculation within the cryptocurrency community.
Mt. The unexpected transfer of $2.9 billion worth of Bitcoin from Gox's cold wallets raised questions and concerns in the cryptocurrency industry, and a decline was seen in the price of Bitcoin. While the market awaits more information, Mt. Gox's legacy continues to impact the world of digital assets.
*This is not investment advice.
