Mt. Gox Transfers $784M in Bitcoin to Unknown Wallet

Mt. Gox, once the largest bitcoin exchange, has transferred significant amounts of Bitcoin to unknown wallet addresses as part of its legal rehabilitation plan to repay creditors. According to blockchain analytics firm Arkham, the exchange sent a total of 13,265 Bitcoins, worth approximately $784 million, to a new address. An additional 1,265 BTC, valued at $74.77 million, was transferred to a cold wallet associated with Mt. Gox.

These movements come amid broader efforts to return funds to creditors following Mt. Gox's collapse in 2014. In earlier significant transactions, the exchange moved 48,641 BTC, worth $3.07 billion, to an address believed to belong to Kraken on July 16, and another 47,228 BTC, valued at $2.7 billion, on July 5. Despite these large transfers, the market has remained steady, with Mt. Gox still holding around $2.7 billion worth of Bitcoin.

The total amount of Bitcoin moved recently by Mt. Gox exceeds $855 million. Analysts have noted that the estate's actions could be a signal that creditor repayments are nearing completion. However, the estate still retains a substantial amount of Bitcoin, leaving market participants to speculate on future moves.