Details of the historical transfer of bitcoin cryptocurrency for more than $ 8 billion have been revealed

On the morning of May 28, the cryptocurrency exchange Mt. Gox started actively moving bitcoins. Representatives of Mt. Gox representatives commented on the transfer of $ 8.7 billion, saying that the trading platform is preparing for the first payments to creditors.

According to Arkham Intelligence, as a result of several transactions, Mt. Gox has moved more than 128,000 BTC from its cold wallet, which is estimated at about $ 8.7 billion. The bankrupt exchange transferred all assets to one address.

The Mt. Gox wallets monitored by Arkham analytics platform contain 137,892 BTC worth $ 9.35 billion in total. The first transfer of the trading platform’s funds in five years caused a negative market reaction. According to CoinGecko, the rate of BTC $61,867.65 Bitcoin -2.51% Market capitalization $1.22 trillion VOL. 24 hours $2.42 billion has fallen below $ 70,000. At the time of writing, the cryptocurrency is trading at $ 68,040.

Exchange manager Nobuaki Kobayashi released an official statement commenting on the latest Mt. Gox’s latest translations. The document says that the bankrupt exchange is preparing to make the first payments to creditors and everything is going according to the approved plan.

As a reminder, in 2014, Mt. Gox suffered a large-scale hack of 850,000 BTC. About 140,000 BTC were recovered. However, the exchange did not escape bankruptcy.

The incident affected more than 24,000 creditors. They are only now starting to receive compensation. Earlier, representatives of the trading platform emphasized that they plan to complete the refund to affected users by October 31, 2024. Before that, the management promised to return the money by the end of 2023.