ADOPTION NEWS

Mt. Gox Transfers $2.13 Billion Worth of Bitcoin to Unknown Address

By 3 Mins Read
Mt. Gox Transfers .13 Billion Worth of Bitcoin to Unknown Address
Exchange • July 24, 2024 2:08 AM EDT

Posted 1 minute earlier In ~

Updated: July 24, 2024 3:26 AM EDT

A cryptocurrency wallet associated with the shuttered exchange Mt. Gox transferred 32,371 bitcoins ($2.13 billion) to an unknown address earlier today.

The massive transfer comes after creditors using cryptocurrency exchange Kraken received payments to their exchange accounts yesterday.

Mt. Gox also sent about $2.8 billion worth of bitcoin to a new address yesterday. Large transfers from Mt. Gox wallets often occur before large amounts of bitcoin are transferred to centralized exchanges to pay creditors.

Mt. Gox also started sending. Bitcoin Bitcoin

-0.74%
Cryptocurrency exchange Bitstamp said: After receiving the funds, they will be distributed “as soon as possible”. Today, 2,237 BTC ($147 million) were transferred to an address (3QVD5), and then 382 BTC ($25 million) were transferred to a second address (3CgKH), both of which are marked as belonging to Bitstamp.

Mt. Gox was a Bitcoin exchange that opened in 2010, but went bankrupt after losing hundreds of thousands of Bitcoins in a series of thefts.

According to The Block’s Bitcoin price page, the price of Bitcoin fell by about 1% on the day.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

Adam is the Editor-in-Chief for Europe, Middle East and Africa. He is based in Central Europe and was the Editor-in-Chief and podcaster at OKX Insights, the former research arm of OKX, a cryptocurrency exchange. Prior to that, he co-founded BeInCrypto.com, which he led as its editor-in-chief to become one of the top crypto media brands at its peak. He was previously the Editor-in-Chief of Bitcoinist.com. Prior to joining the blockchain and cryptocurrency industry, he worked at Looper.com, Grunge.com, and SVG.com. He can be found tweeting at @XBT002 and emailing him at (email protected).
Vishal Chawla is The Block’s Crypto Ecosystem Editor, and has covered technology protocols, cybersecurity, artificial intelligence, and cloud computing for over seven years. Prior to joining The Block, Vishal held positions at IDG ComputerWorld, CIO, and Crypto Briefing. He can be reached on Twitter @vishal4c and via email (email protected).
Share.

Related Posts

Add A Comment

Comments are closed.