Key Takeaways
- Mt. Gox moved $936 million in Bitcoin after eight months of inactivity.
- The movement relates to the exchange’s ongoing court-supervised creditor repayment process.
Mt. Gox, the defunct crypto exchange, moved $936 million worth of Bitcoin today after remaining dormant for eight months. The transfer involved shifting Bitcoin to a new wallet address, marking the first significant activity from the exchange’s holdings since March.
The movement comes as Mt. Gox continues its court-supervised creditor repayment process. The rehabilitation trustee has extended the deadline for creditor reimbursements to allow more time for managing Bitcoin distributions.
Mt. Gox has been gradually shifting Bitcoin to new addresses as part of its ongoing efforts to repay creditors. The exchange collapsed in 2014 following a massive hack that resulted in the loss of around 850,000 Bitcoin.
The latest wallet activity suggests preparations may be underway for additional creditor payments, though the exchange has not disclosed specific timelines for distributions. Mt. Gox began returning funds to creditors in 2024 after years of legal proceedings.
This is a developing story.
Source: https://cryptobriefing.com/mt-gox-moves-936m-in-bitcoin-after-eight-month-dormancy/