Mt. Gox transfers 1,544 BTC to BitBank

IconCryptoNewsTerminal Staff04 Jul, 2024

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Mt. Gox transfers 1,544 BTC to BitBank

Mt. Gox, the defunct cryptocurrency exchange that lost 850,000 BTC in a 2014 hack, has transferred 1,544 BTC (worth $84.87 million) to BitBank, a Japanese cryptocurrency exchange. The transfer was reported by PeckShieldAlert on Twitter, stating that the funds were moved 16 minutes prior to the tweet. The reason for the transfer is unknown, but it has sparked speculation among the cryptocurrency community. Some believe that Mt. Gox is preparing to distribute the remaining BTC to its creditors, while others believe that the exchange is simply moving its funds to a more secure location. Whatever the reason, the transfer is a significant event in the history of Mt. Gox. It is the first time that the exchange has moved a substantial amount of BTC since it was hacked in 2014.

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