Mount Gox Aftermath: $336 Million in Bitcoin Shifted
CryptoNewsTerminal Staff23 Jul, 2024
Mount Gox Aftermath: $336 Million in Bitcoin Shifted
Nearly $336 million worth of Bitcoin (BTC) has been moved from an address believed to be associated with the now-defunct Japanese exchange Mount Gox. According to data from blockchain intelligence firm Arkham Intelligence, 37,477 BTC left the wallet around 8 minutes ago and was sent to an unknown address starting with "12Gws9." This transaction has raised eyebrows within the crypto community, as many have speculated that it could be related to the long-awaited distribution of funds to creditors who lost money when Mount Gox collapsed. Mount Gox, once the world's largest cryptocurrency exchange, filed for bankruptcy in 2014 after losing 850,000 BTC in a hack. Since then, the company has been working to recover the stolen funds, and a civil rehabilitation plan was approved in 2018 to compensate creditors.
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