MtGox to Anonymous: 3,999 BTC Transferred

IconCryptoNewsTerminal Staff28 May, 2024

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MtGox to Anonymous: 3,999 BTC Transferred

Mt. Gox has been in the news recently for a massive transfer of Bitcoin (BTC) to an unknown wallet. According to Whale Alert, a bot that tracks large cryptocurrency transactions, Mt. Gox moved 3,999 BTC, worth approximately $280 million, on February 16, 2023. The transfer has raised questions about the source of the funds and the identity of the recipient. Mt. Gox was once the largest Bitcoin exchange in the world, but it collapsed in 2014 after losing 850,000 BTC in a hack. The exchange has been in bankruptcy proceedings ever since, and it is unclear how it came into possession of such a large amount of BTC. Some speculate that the BTC may have come from a stash of coins that Mt. Gox recovered after the hack. Others believe that the exchange may have purchased the BTC on the open market. Regardless of the source of the funds, the transfer is a reminder of the risks associated with cryptocurrency exchanges.

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