Mt. Gox Transfers $2.7B Bitcoin Before $9B Payout Process

Defunct Japanese crypto exchange Mt. Gox on Thursday transferred Bitcoin worth $2.7b to a new wallet address. It marks the exchange’s first significant transaction since May, following several smaller test transactions on Wednesday. Arkham Intelligence reported in a Thursday X post that a cold storage wallet Mt. Gox moved 47,228 BTC to a wallet address ending with “6onk.” Creditors are finally seeing a light at the end of the tunnel over a decade since the exchange’s collapse after a 2014 hack. The total disbursement is expected to include 142,000 Bitcoin, 143,000 Bitcoin Cash, and 69 billion yen by Oct. 2024.

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