{"id":25701,"date":"2024-07-24T14:00:41","date_gmt":"2024-07-24T11:00:41","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25701"},"modified":"2024-07-24T10:30:54","modified_gmt":"2024-07-24T07:30:54","slug":"mt-gox-moves-2-5-billion-in-bitcoin-to-unknown-wallet","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/mt-gox-moves-2-5-billion-in-bitcoin-to-unknown-wallet\/","title":{"rendered":"Mt. Gox Moves $2.5 Billion in Bitcoin to Unknown Wallet"},"content":{"rendered":"<p>Falled cryptocurrency exchange <strong>Mt. Gox<\/strong> has recently sent an unidentified wallet address of 37,477 Bitcoin, valued at $2.5 billion at current rates.\u00a0 Data from the blockchain analytics website Valhalla Intelligence shows that <strong>Mt. Gox<\/strong> moved the 37,477 BTC to a fresh address at 4:53 am UTC on July 24.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/mt-gox-moves-2-5-billion-in-bitcoin-to-unknown-wallet\/#Significant_Bitcoin_Movement_by_Mt_Gox\" title=\"Significant Bitcoin Movement by Mt. Gox\">Significant Bitcoin Movement by Mt. Gox<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/mt-gox-moves-2-5-billion-in-bitcoin-to-unknown-wallet\/#Ongoing_Payouts_to_Creditors\" title=\"Ongoing Payouts to Creditors\">Ongoing Payouts to Creditors<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Significant_Bitcoin_Movement_by_Mt_Gox\"><\/span>Significant Bitcoin Movement by Mt. Gox<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Of that total, 5,106 BTC were transferred once more to another cold wallet run-through by <strong>Mt. Gox.<\/strong><\/p>\n<p>Less than 24 hours after the $2.8 billion in BTC was moved from the exchange to various wallets on July 22, $340 million of that value was transferred to four wallets connected with the crypto exchange Bitstamp. One of the five exchanges collaborating with the <strong>Mt. Gox<\/strong> trustee to return money to creditors is Bitstamp.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ongoing_Payouts_to_Creditors\"><\/span>Ongoing Payouts to Creditors<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from CryptoQuant shows that just over forty percent of the bitcoin owed to <strong>Mt. Gox<\/strong> creditors has been disbursed as of the time of publication. That means 60%\u2014or $5.6 billion\u2014has yet to be refunded to creditors.<\/p>\n<p>About 127,000 <strong>Mt. Gox<\/strong> creditors owe almost $9 billion worth of Bitcoin; they have been waiting for more than ten years to get their money back after the exchange fell apart following a significant security breach in 2014. Although some view it as a possible mass sell-off event, numerous analysts have argued the worries are mainly unfounded.<\/p>\n<p>Head of research at Galaxy Digital, Alex Thorne, noted that rather than directly hitting the spot market, over half of the bitcoin that will be reimbursed to creditors is owed to other entities.<\/p>\n<p>Thorn also pointed out that even the money given back straight to specific creditors is unlikely to enter the market all at once and that many <strong>Mt. Gox<\/strong> creditors are probably more &#8220;diamond-handed&#8221; than others would believe.<\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for <\/em><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Falled cryptocurrency exchange Mt. Gox has recently sent an unidentified wallet address of 37,477 Bitcoin, valued at $2.5 billion at current rates.\u00a0 Data from the blockchain analytics website Valhalla Intelligence shows that Mt. Gox moved the 37,477 BTC to a fresh address at 4:53 am UTC on July 24. Significant Bitcoin Movement by Mt. Gox<\/p>\n","protected":false},"author":6,"featured_media":23461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[61,566],"class_list":["post-25701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-mt-gox"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mt. 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