Mt. Gox, the bankrupt cryptocurrency exchange, made significant moves today by transferring $2.47 billion worth of Bitcoin to creditors. This morning, the company moved 37,477 BTC to an untagged address known as 12Gws9, as reported by Arkham Intelligence. Additionally, 5,106 BTC was transferred through a cold wallet to another untagged address starting with 1MzhW.
This transfer is a part of Mt. Gox’s ongoing effort to repay creditors who suffered losses during the exchange’s collapse in 2014. The company has committed to repaying over $9 billion in BTC to creditors. Previous transactions included moving $2.8 billion BTC to a new address on July 23, with 5,110 BTC transferred to Bitstamp addresses.
According to blockchain analytics platform Lookonchain, Mt. Gox has moved a total of 52,549 BTC, equivalent to $3.31 billion, to centralized exchanges like Bitstamp, Kraken, and Bitbank since July 5. These exchanges are working with the Mt. Gox trustee to facilitate the return of funds to creditors. Despite these transfers, Mt. Gox still holds more than 90,000 BTC, estimated to be worth $5.97 billion.
In a separate development, Kraken announced that it has successfully completed the distribution of Bitcoin and Bitcoin Cash from the Mt. Gox estate back to creditors. Kraken CEO Dave Ripley expressed gratitude to the Trustee for safeguarding the coins and preserving their value over time. The repayment process was delayed due to legal challenges, but the funds have now been securely returned to creditors.
Overall, these recent developments indicate progress in the repayment process for Mt. Gox creditors, as the exchange continues to transfer significant amounts of Bitcoin to settle outstanding debts. The completion of the Kraken repayment marks a significant milestone in returning funds to those affected by the Mt. Gox collapse.