Mt. Gox Continues Bitcoin Transfer, This Time Amounting to $3.13 Billion

On the evening of July 30th, data from on-chain analytics units indicated that the Bitcoin wallet cluster associated with Mt. Gox had initiated a new transaction, moving 47,299 BTC, equivalent to $3.13 billion. Notably, this marks the third and largest payout by Mt. Gox.

The funds were distributed to three new wallet addresses: bc1q26…mw3f ($2.2 billion), 1MUQEi…SXZZ ($879 million), and bc1q48…ft36 ($56.8 million). These transactions are likely part of the ongoing process to repay the exchange’s creditors, who have been waiting for compensation since the Mt. Gox hack in 2014.

Mt. Gox began this repayment process in July, conducting large-scale transfers to designated trading platforms such as Kraken, Bitstamp, BitBank, CoinJoin, and others.

Currently, Mt. Gox still holds over 80,000 BTC, valued at $5.3 billion. Therefore, in the past month, the exchange has repaid nearly 45% of its initial 142,000 BTC holdings.

Related: Mt. Gox Continues Bitcoin Dump, Bitstamp Takes a Hit

Bitcoin Price Fluctuation

Following the announcement, Bitcoin’s price experienced a slight drop from $66,500 to $65,500 but has since recovered to $66,300.