Mt. Gox Outflows Likely Landed at Kraken, Blockchain Firm Arkham Reports

IconCryptoNewsTerminal Staff16 Jul, 2024

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Mt. Gox Outflows Likely Landed at Kraken, Blockchain Firm Arkham Reports

Blockchain analytics firm Arkham Intelligence reported that Mt. Gox moved 48,641 BTC ($3.07B) to an unknown address likely associated with Kraken. The funds remain in the unknown address, while two Mt. Gox trustee addresses hold 43,114 BTC ($2.74B). CoinDesk previously reported that Kraken received funds from Mt. Gox's trustee to distribute to creditors and planned to begin repayments within 7-14 days. This development marks a significant step towards the resolution of the long-standing Mt. Gox bankruptcy case.