Mt. Gox Moves $2.5B in Bitcoin, Surpasses 40% Repayment Mark

• Mt. Gox has transferred $2.5 billion in Bitcoin, marking significant progress in creditor repayments.
• Arkham Intelligence reported that 5,106 BTC were moved to another Mt. Gox cold wallet.
• Bitstamp is collaborating with Mt. Gox to facilitate the repayment of over $9 billion owed to creditors.

Mt. Gox has recently transacted a significant amount of Bitcoin, totaling $2.74 billion, to an anonymous wallet amid ongoing creditor payouts. Arkham Intelligence, a blockchain analytics firm, disclosed that from the total amount, 5,106 BTC were additionally moved to another cold wallet owned by Mt. Gox.

In a recent post by LookinChain in X space, clear evidence has shown the transactions that have been made for the past few days during the credit rollout.

This transaction occurred after the exchange relocated $2.8 billion in BTC to various wallets on July 22. Of that, $340 million was dispatched to four wallets connected to the Bitstamp crypto exchange. 

Specifically, 5,106 BTC were again routed to an unknown wallet under Mt. Gox’s control. This move happened less than a day after Mt. Gox relocated $2.8 billion in BTC to several wallets on July 22, with $340 million of that sum directed to four wallets affiliated with Bitstamp.

Bitstamp is one of the five exchanges collaborating with the Mt. Gox trustee to pay funds to creditors.

As of now, a little over 40% of the Bitcoin owed to Mt. Gox creditors has been disbursed, according to CryptoQuant data. This indicates that 60% or $5.6 billion remains to be returned to creditors.

Approximately $9 billion worth of Bitcoin is owed to around 127, 000 Mt. Gox creditors, who have been awaiting the payout of their investments for over a decade since the exchange’s fall following a theft that had occurred in 2014.

While some view this as a potential mega sale by the creditors who received their funds, several analysts argue that these fears are largely exaggerated with early investors receiving these assets, especially those who entered the market before 2013, may be tempted to sell part of their holdings due to the surge in value since their initial investment.