Whale Alert: 14,057 BTC Moved from Mt. Gox to Anonymous Address

IconCryptoNewsTerminal Staff28 May, 2024

cryptonews.jpg

Whale Alert: 14,057 BTC Moved from Mt. Gox to Anonymous Address

On-chain data analytics provider Whale Alert has detected the movement of 14,057 Bitcoin (BTC) from a Mt. Gox address to an unknown address. This transaction amounts to approximately $970 million. Mt. Gox was once the world's largest cryptocurrency exchange, but it collapsed in 2014 after losing 850,000 BTC in a hack. The exchange has been in rehabilitation since then, and it has been gradually selling off its remaining BTC to compensate creditors. The movement of such a large amount of BTC from Mt. Gox has raised eyebrows, and some speculate that it could be a sign that the exchange is preparing to make a major distribution to creditors. However, Mt. Gox has not made any official announcements, and it is unclear what the purpose of the transaction is. The movement of this amount of Bitcoin is a significant event, and it is likely to have an impact on the price of BTC. However, it is too early to say what the long-term effects of this transaction will be.

Related News