Mt. Gox Resumes BTC Shuffle, Are Repayments Back on Track?
- Defunct exchange Mt. Gox is back in the spotlight with fresh Bitcoin movements.
- The renewed activity comes after a period of silence.
- Recent developments have put a hold on settlements.
Mt. Gox, once the largest cryptocurrency exchange before a devastating hack led to its collapse, has recently returned to the spotlight, reimbursing thousands of users impacted by its downfall. With the exchange’s comeback came frequent large-scale Bitcoin transfers, distributed among entities and eventually directed toward repayments.
However, the exchange recently paused the process, but new portfolio stir-ups have renewed chatter.
Mt. Gox’s Fresh $35M BTC Transfer
After nearly four weeks of silence, Mt.Gox resumed Bitcoin shuffling across its wallets. On Friday, November 1, 2024, approximately 500 BTC was moved from a cold wallet associated with the now-defunct exchange.
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Split in two transactions of 468.24 BTC and 31.78 BTC, the assets, worth approximately $35 million at current prices, were moved to two unmarked addresses, marking the first significant movement since the exchange’s last such transfer on September 5.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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