Mt. Gox Makes Massive Transfer of 13,265 BTC

IconCryptoNewsTerminal Staff20 Aug, 2024

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Mt. Gox Makes Massive Transfer of 13,265 BTC

Mt. Gox, the infamous cryptocurrency exchange that collapsed in 2014, has moved 13,265 Bitcoin (BTC), worth approximately $784 million. Blockchain analytics firm Ubbletter reported the movement, stating that the transfer occurred on August 21st at 8:39 AM (Korean Time). 12,000 BTC from the total amount were sent to a new address, while the remaining 1,265 BTC were transferred to an address labeled as a Mt. Gox cold wallet. The movement of these funds has raised questions about the intentions behind it. Some speculate that it could be a sign of Mt. Gox preparing for a potential relaunch, while others believe it could be a way to liquidate the exchange's remaining assets. Mt. Gox has not provided any official statement regarding the transfer. However, the movement of these funds is a significant development that could impact the cryptocurrency market.

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