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<div class="intro-text"> 
 Defunct crypto exchange Mt. Gox has made significant moves in its ongoing efforts to repay creditors. 
</div> 
On Tuesday morning, the exchange transferred 2,239 Bitcoin (BTC), valued at approximately $149 million, to a Bitstamp wallet. This transaction followed two larger transfers made just hours earlier, totaling 42,587 BTC (worth about $2.84 billion) to two separate wallet addresses. 
According to<a style="color: #0000ff;" href="https://x.com/spotonchain/status/1815620307362996239"> Spot on Chain</a>, these transactions are likely part of Mt. Gox’s plan to repay $9 billion worth of crypto debt to its creditors, a process confirmed earlier this month. The exchange first moved 37,477 BTC (around $2.5 billion) to a new crypto wallet labelled “15yPUC,” followed by a transfer of 5,110 BTC (about $241 million) to a different internal cold wallet presumed to be owned by Mt. Gox. 
Earlier in the month,<a style="color: #0000ff;" href="https://x.com/spotonchain/status/1815289271080935669"> Mt. Gox sent 1,545 BTC</a> (approximately $84.87 million) to Bitbank, and on July 16, transferred 48,641 BTC (worth $3.27 billion) to a Kraken wallet.<a style="color: #0000ff;" href="https://platform.arkhamintelligence.com/explorer/entity/mt-gox"> Data from Arkham Intelligence</a> reveals that Mt. Gox currently holds over 90,344 BTC, valued at $6.04 billion. 
Bitstamp is among the designated crypto exchanges to manage Mt. Gox’s repayments. Other prominent exchanges like Kraken have also acquired their shares of crypto assets in $BTC and $BCH from the defunct exchange, with plans to begin distribution within the next two weeks.&nbsp; 
<a style="color: #0000ff;" href="https://defi-planet.com/2024/07/mt-gox-begins-crypto-repayments-after-decade-long-wait/">The distribution of assets to creditors meeting specific requirements outlined in the rehabilitation plan reportedly began on July 5</a>, with payments made in Bitcoin (BTC) or Bitcoin Cash (BCH). 
Confirmations of these payments have surfaced on Mt. Gox’s subreddit, with one user sharing an email from the exchange confirming a credit to a Japan-based creditor. 
These recent activities mark significant progress in Mt. Gox’s efforts to settle its outstanding debts and bring closure to one of the most notorious incidents in cryptocurrency history. 
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The post <a href="https://defi-planet.com/2024/07/mt-gox-transfers-2-98-billion-worth-of-bitcoin-in-2-hours-as-repayment-process-for-creditors-continues/">Mt. Gox Transfers $2.98 Billion Worth of Bitcoin in 2 Hours As Repayment Process for Creditors Continues</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Mt. Gox Transfers $2.98 Billion Worth of Bitcoin in 2 Hours As Repayment Process for Creditors Continues

DeFi Planet

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