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A bitcoin exchange based in Shibuya, Mt. Gox’s transfer of 75,021 Bitcoin, worth $5 billion, to an undisclosed wallet caused a 2% drop in Bitcoin’s price, ahead of its plan to repay creditors by October. 
Whale Alert, tracking on-chain movements, reported multiple transactions on May 28, including one of 16,500 BTC. Arkham Intelligence’s blockchain explorer <a href="https://platform.arkhamintelligence.com/explorer/entity/mt-gox" target="_blank" rel="noreferrer noopener nofollow">confirmed</a> these transactions, totaling 21 transfers from Mt. Gox’s cold wallets. 
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 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 3,999 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BTC</a> (277,654,876 USD) transferred from <a href="https://twitter.com/hashtag/MtGox?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#MtGox</a> to unknown wallet<a href="https://t.co/hIjDOB73kC" target="_blank">https://t.co/hIjDOB73kC</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1795269301533901172?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 28, 2024</a>
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An additional 32,137 BTC was <a href="https://platform.arkhamintelligence.com/explorer/tx/4844837c66b00966a1e764bc01e3d8d2a2a77222a62c0ed25e8e6c83c7b452a3" target="_blank" rel="noreferrer noopener nofollow">moved</a>, totaling Mt. Gox’s Bitcoin holdings to over $5 billion. The transactions pointed to a single unlabeled address, while Mt. Gox still <a href="https://platform.arkhamintelligence.com/explorer/address/1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6" target="_blank" rel="noreferrer noopener nofollow">retains</a> 138,000 BTC worth $9.36 billion. 
Mt. Gox’s trustee firm, Nagashima Ohno and Tsunematsu, still needs to clarify the purpose of these transactions. Bitcoin’s value dropped to $67,875 post-transfer, down from $69,374, amid concerns raised by K33 Research analysts about market impact. 
Creditors, owed over $9.4 billion in Bitcoin, have waited for repayment since Mt. Gox’s collapse in 2014. The final deadline for repayment is October 31, with creditors confirming their identities since January for potential refunds. 
Mt. Gox’s significant Bitcoin transfer reflects ongoing market fragility and underscores lingering uncertainties among investors. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/23/mt-gox-creditors-receive-bitcoin-bitcoin-cash-payment-update/" target="_blank" rel="noreferrer noopener">Mt. Gox Creditors Receive Bitcoin, Bitcoin Cash Payment Update</a> 
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Mt. Gox’s $5 Billion Bitcoin Transfer Causes 2% Price Drop

The Crypto Times

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