Bitcoin

Arkham

Mt. Gox again began shifting funds on July 23, moving over 47,500 Bitcoin worth almost $3.2 billion to two unknown addresses at 5:05 am and 6:27 am UTC.
<a href="https://platform.arkhamintelligence.com/explorer/entity/mt-gox" target="_blank" rel="noopener nofollow">According</a> to Arkham Intelligence data, Mt. Gox holds 90,344 Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) worth $6.02 billion, but this is outdated, and its current holdings now stand at around 42,744 BTC worth $2.85 billion.
Following the defunct exchange’s <a href="https://cointelegraph.com/news/mt-gox-repayments-bitcoin-bitcoin-cash">repayments statement on July 5</a>, it established plans to “promptly” carry out repayments to creditors that seem well underway.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/33ebc147-6830-452f-b2f8-db7dc834e3c1.png" alt="Mt. Gox sees $3.2B BTC in outflows in just two hours" title="">
 <figcaption style="text-align: center;">
 Arkham Intelligence data depicting around 47,600 BTC leaving the Mt. Gox address. Source: Arkham Intelligence
 </figcaption>
</figure>
Related:&nbsp;<a href="https://cointelegraph.com/news/mt-gox-moves-3b-btc-unknown-wallet">Mt. Gox shifts $9B in BTC, market braces for impact</a>
<h2 data-ct-non-breakable="true" id="mt-gox-outflow-destinations">Mt. Gox outflow destinations</h2>
The Mt. Gox wallet labeled “Mt. Gox: Cold Wallet (<a href="https://platform.arkhamintelligence.com/explorer/address/1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6" target="_blank" rel="noopener nofollow">1Jbez</a>)” sent 5,110 BTC worth around $340 million to an unknown wallet and the cryptocurrency exchange Bitstamp.
Of the 5,110 BTC, 2,871 BTC, worth around $191 million, was sent to an unknown address starting with <a href="https://platform.arkhamintelligence.com/explorer/address/1JKMSShPMSQ2LPHf6fFsgweMVXXeMaSBVD" target="_blank" rel="noopener nofollow">1JKMS</a>, while the remaining funds, worth $149 million, landed on Bitstamp. 
The preceding 42,587 BTC, worth $2.85 billion, was sent out earlier to another unknown address starting with <a href="https://platform.arkhamintelligence.com/explorer/address/15yPUCW9XRmPpNtQkzYogtfgi99pk8rvwe" target="_blank" rel="noopener nofollow">15yPU</a>. 
Related: <a href="https://cointelegraph.com/news/mt-gox-bitcoin-repayments-bitstamp-test-transactions">Mt. Gox prepares for repayments on Bitstamp, executes test transactions</a>
<h2 data-ct-non-breakable="true" id="preparations-for-bitstamp-repayments">Preparations for Bitstamp repayments</h2>
On July 22, <a href="https://cointelegraph.com/news/mt-gox-bitcoin-repayments-bitstamp-test-transactions">Mt. Gox began preparing to repay creditors through Bitstamp</a>, according to onchain fund holding movements.
According to Arkham Intelligence, Mt. Gox addresses “deposited $1” to four separate Bitstamp deposit addresses. “Bitstamp is 1 of 5 exchanges working with the Mt. Gox Trustee.”
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/72a7f9f2-b4e6-42bb-a05c-175c1c2df406.png" alt="Mt. Gox sees $3.2B BTC in outflows in just two hours" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/ArkhamIntel/status/1815329609644159136" target="_blank" rel="noopener nofollow">Arkham</a>
 </figcaption>
</figure>
Despite finance analyst Jacob King speculating in an X post on July 4 that 99% of creditors would sell their coins “the moment” they get them, a <a href="https://cointelegraph.com/news/mt-gox-creditors-hodl-btc-payouts-reddit">Reddit poll says otherwise</a>.
Related: <a href="https://cointelegraph.com/news/mt-gox-creditors-hodl-btc-payouts-reddit">Mt. Gox creditors opt to hodl Bitcoin payouts — Reddit poll</a>
<h2 data-ct-non-breakable="true" id="over-12-billion-offloaded">Over $12 billion offloaded </h2>
With the latest $3.2 billion in BTC shifted out of the Mt. Gox address, the tally amounts to over $12 billion offloaded to creditors since July 16.
On July 16, the defunct exchange saw outflows of over 140,000 BTC in a significant move after two weeks of onchain inactivity.
With a volume of almost 190,000 BTC moved in just three hours, Mt. Gox fund outflows contributed to over $12 billion in volume movements as repayments proceeded as promised.
Magazine: <a href="https://cointelegraph.com/magazine/pudgy-penguins-pixelverse-ether-etfs-price-impact-hodlers-digest-july-14-20/">Pudgy Penguins lands in Pixelverse, Ether ETFs, and more: Hodler’s Digest, July 14-20</a>

Mt. Gox sees $3.2B BTC in outflows in just two hours

Inhaltsverzeichnis

Cointelegraph

Weitere Artikel, die am 23. Juli 2024 veröffentlicht wurden

Legendary Trader John Bollinger Issues Blockbuster Litecoin (LTC) Price Prediction

BlackRock Leads Spot Bitcoin ETFs Inflow To Highest Level In Almost 2 Months

Grayscale prepares for spot Ethereum ETFs launch with $1 billion

IMX: Bulls Pummel The Bears With A 10% Uptick This Week

ChainLink’s Macro Scale: LINK Poised for Triple-Digit Breakthrough

Swan Bitcoin Cancels IPO Plans After Mining Division Closure

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!