{"id":13856,"date":"2024-05-28T10:17:51","date_gmt":"2024-05-28T07:17:51","guid":{"rendered":"https:\/\/forklog.com\/en\/mt-gox-transfers-over-9-billion-in-bitcoin\/"},"modified":"2024-05-28T10:17:51","modified_gmt":"2024-05-28T07:17:51","slug":"mt-gox-transfers-over-9-billion-in-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mt-gox-transfers-over-9-billion-in-bitcoin\/","title":{"rendered":"Mt.Gox Transfers Over $9 Billion in Bitcoin"},"content":{"rendered":"<p>The bankrupt exchange Mt.Gox, which collapsed in 2014, has begun actively moving bitcoins for the first time in five years, according to <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/mt-gox\">Arkham<\/a>.<\/p>\n<p>Within a few hours, the platform transferred over 128,000 BTC (~$8.7 billion) from a cold wallet to a new address through a series of transactions.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">May 28, 2024 | 19:29<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>According to Arkham, the amount reached 141,686 BTC (~$9.62 billion). <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">$10B of Mt. Gox BTC (140K) moved over the last 7 hours<\/p>\n<p>72 different Mt. Gox-linked wallets sent a total of 141,686 BTC in batches of ~2K to 1Jbez, a new wallet that received its first test transaction for $3.65 on 5\/20 last week and began receiving larger transactions 8 hours\u2026 <a href=\"https:\/\/t.co\/PaBXqFrnYO\">pic.twitter.com\/PaBXqFrnYO<\/a><\/p>\n<p>\u2014 Arkham (@ArkhamIntel) <a href=\"https:\/\/twitter.com\/ArkhamIntel\/status\/1795393616371728424?ref_src=twsrc%5Etfw\">May 28, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<p>The movement of coins belonging to the defunct Mt.Gox triggered a negative market reaction, particularly fears of a sell-off. Bitcoin&#8217;s price, which had risen to $70,000 on Monday evening, fell below $68,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"617\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-05-28_09-26-48-1024x617.png\" alt=\"BTCUSDT_2024-05-28_09-26-48\" class=\"wp-image-233659\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-05-28_09-26-48-1024x617.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-05-28_09-26-48-300x181.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-05-28_09-26-48-768x463.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-05-28_09-26-48.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly BTC\/USDT chart from Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Mt.Gox wallets tracked by Arkham hold a total of 137,892 BTC valued at $9.35 billion.<\/p>\n<p>In January, the exchange <a href=\"https:\/\/u1f987.com\/en\/news\/mt-gox-confirms-client-addresses-for-compensation\">confirmed<\/a> creditor addresses for compensation. In April, some platform clients <a href=\"https:\/\/u1f987.com\/en\/news\/mt-gox-trustee-updates-creditor-payout-information\">reported<\/a> receiving fiat payments.<\/p>\n<p>It is expected that Mt.Gox will distribute assets by October 31, 2024.<\/p>\n<p>Experts at K33 Research <a href=\"https:\/\/u1f987.com\/en\/news\/potential-bitcoin-market-impact-from-mt-gox-creditor-sales-highlighted-by-analysts\">concluded<\/a> that the prospect of a bitcoin sell-off by the exchange could &#8220;frighten the market&#8221; and exert pressure on the price.<\/p>\n<p>The civil rehabilitation process for Mt.Gox users began in June 2018. In 2021, the Tokyo court approved the platform&#8217;s compensation plan.<\/p>\n<p>The trustee presented the compensation proposal in December 2020. In January 2021, details of the plan became known, and in February, the court approved it for subsequent voting.<\/p>\n<p>The voting started on May 31 and ended on October 20. Approximately 83% of the exchange&#8217;s users supported the compensation initiative.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bankrupt exchange Mt.Gox, which collapsed in 2014, has begun actively moving bitcoins for the first time in five years, according to Arkham. Within a few hours, the platform transferred over 128,000 BTC (~$8.7 billion) from a cold wallet to a new address through a series of transactions. May 28, 2024 | 19:29Update: According to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1300,136],"class_list":["post-13856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bankruptcy","tag-mtgox"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=13856"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/13855"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=13856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=13856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=13856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}