ARKAM Reports $2.71 Billion Worth of BTC Moved from Mt. Gox

IconCryptoNewsTerminal Staff05 Jul, 2024

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ARKAM Reports $2.71 Billion Worth of BTC Moved from Mt. Gox

In the past 8 hours, blockchain analytics firm ARKAM reported massive Bitcoin (BTC) movement. A total of 47,229 BTC worth $2.71 billion has been moved from the Mt. Gox cold wallet '1HeHL' to external addresses. The outflow includes the transfer of 2,701.8 BTC (approx. $148.4 million) from Mt. Gox to external addresses via another Mt. Gox address '1PKGG'. Out of this, 1,544.7 BTC (approx. $84.9 million) was deposited into Bitbank, while 1,157.1 BTC (approx. $63.6 million) was sent to an anonymous address likely designated for creditors' redemptions. The remaining 44,527 BTC appear to be held in '16ArP'. ARKAM suggests that this movement may be related to the ongoing creditor redemption plan. Earlier, Mt. Gox had begun repayments in BTC and BCH to creditors who opted for the 'coin repayment' option. Mt. Gox now holds 138,989 BTC, worth around $7.52 billion, following this recent outflow.

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