Mt. Gox moves $1.01B BTC with Kraken exchange test transfer
Bankrupt Exchange MT. Gox transferred 11,501 BTC, worth around 1.01 billion dollars, in its third major transaction this month, in parallel with a Kraken exchange test transfer.
The Arkham Intelligence Blockchain Analysis Society reported The Mont Gox portfolio movement on March 25. Transactions included 893 bitcoin (BTC) (approximately $ 78 million) sent to a new address and 10,608 BTC (around 929 million dollars) moved to another GOX controlled portfolio. In addition, 0.000017 BTC was sent to Kraken, perhaps as a test transfer.
Many speculate that this could be linked to the reimbursements of future creditors. This follows two other big transfers Earlier in this month, which included 12,000 BTC on the 6 and 11,833 BTC on March 11. The blockchain on chain analysis platform spot, reported that some of these previous transfers found themselves on the Bitstamp exchange.
Formerly the largest Bitcoin exchange in the world, Mount Gox declared bankruptcy in 2014 after losing around 850,000 BTC, which was then estimated at nearly $ 500 million. The exchange attributed the loss to a hacking incident, which turned out to be the result of years of safety keys. The case has been the subject of numerous legal battles over the years, which has caused delay in the reimbursement of creditors.
Since March 25, data D’Arkham Intelligence shows that Mount Gox still holds around 35,000 Bitcoin, worth around 3.08 billion dollars. Last year, the exchange extended Its repayment deadline from October 31, 2024 to October 31, 2025, citing delays in verification and treatment.
Historically, large Bitcoin transfers from entities like MT. Gox have triggered a market fluctuations. However, the data suggests that recent movements have had less impact on the Bitcoin price. The cryptocurrency is negotiated at around $ 86,500 at the time of the press, showing a strong recovery compared to its recent 7 days of $ 81,259.
Post Comment