Bitcoin From Mt. Gox Moves Through BitGo, Mt. Gox Distribution Incoming?
CryptoNewsTerminal Staff13 Aug, 2024
Bitcoin From Mt. Gox Moves Through BitGo, Mt. Gox Distribution Incoming?
Blockchain analytics firm Arkham Intelligence is reporting via Twitter that "an address which received 2.19B USD worth of BTC from MtGox 10m ago just made a test transfer," and explained that "the receiving address appears to be a BitGo wallet (starting with bc1c26)." Mt. Gox was once the world's largest Bitcoin exchange, but it was hacked in 2014, and approximately 200,000 BTC was stolen. However, in 2021, Mt. Gox was able to recover some of the lost Bitcoin. In April 2022, the exchange announced that it would be distributing the recovered funds to creditors. Now, this recent test transfer suggests that Mt. Gox is getting closer to distributing the coins to creditors. Arkham Intelligence stated that "this is a good sign that Mt. Gox is preparing to distribute coins to creditors." If Mt. Gox is able to successfully distribute the coins, it will be a major win for the creditors who have been waiting for years to receive their funds. ```
