On July 23, Mt. Gox moved over 47,500 Bitcoin, worth nearly $3.2 billion, to two unknown addresses at 5:05 am and 6:27 am UTC, according to Arkham Intelligence data.
Although Mt. Gox was reported to hold 90,344 Bitcoin valued at $6.02 billion, its current holdings have decreased to approximately 42,744 BTC, worth $2.85 billion.
Following a statement on July 5 about repayments, Mt. Gox plans to promptly compensate creditors, and these plans appear to be well underway.
The Mt. Gox wallet labeled “Mt. Gox: Cold Wallet (1Jbez)” recently sent 5,110 BTC, worth around $340 million, to an unknown wallet and the cryptocurrency exchange Bitstamp.
Of this, 2,871 BTC, valued at around $191 million, was sent to an unknown address starting with 1JKMS, while the remaining BTC, worth $149 million, landed on Bitstamp.
Previously, 42,587 BTC, worth $2.85 billion, had been sent to another unknown address starting with 15yPU.
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On July 22, Mt. Gox began preparations to repay creditors through Bitstamp, as indicated by onchain fund movements.
Arkham Intelligence noted that Mt. Gox addresses deposited $1 to four separate Bitstamp deposit addresses, confirming Bitstamp as one of five exchanges collaborating with the Mt. Gox Trustee.
Despite finance analyst Jacob King’s speculation on July 4 that 99% of creditors would sell their coins immediately, a Reddit poll suggests otherwise.
With the latest $3.2 billion in BTC moved from the Mt. Gox address, over $12 billion has been offloaded to creditors since July 16.
On July 16, Mt. Gox witnessed outflows of over 140,000 BTC after two weeks of inactivity, marking a significant movement.
In just three hours, nearly 190,000 BTC were transferred, contributing to over $12 billion in volume movements as repayments continued as promised.
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