Mt Gox moves $75 Million in Bitcoin to Bitstamp Exchange Wallet Address

Defunct Bitcoin (BTC) exchange Mt. Gox has made a transfer of about $75.36 million in Bitcoin to Bitstamp’s exchange wallet address, which might mean that another payment to creditors is about to happen.

Arkham data shows Mt. Gox moved 1264.69 BTC, worth $75.36 million, from its main wallet address “1Jbez...LAPs6” at around 08:49 Greenwich Mean Time (GMT) to a new wallet address “3HXo1...wsuXH.” The wallet address was identified by the blockchain analytics company to be owned by Bitstamp, a cryptocurrency exchange.

Mt. Gox sends over $700 million worth of Bitcoin to unknown wallet

Arkham's data shows that on Tuesday night, "1MUQE...5SXZZ," another Mt. Gox wallet, sent bitcoin to Mt. Gox cold wallet. 12,000 Bitcoins ($709.44 million) were transferred to an unidentified wallet in this transaction.

At approximately 11:39 p.m. UTC on Tuesday, the defunct cryptocurrency exchange transferred $709.44 million worth of bitcoin to the wallet address "1PuQB...nWhTb.” Additionally, a transfer of 1264.69 BTC ($74.77 million) to the address “1Jbez...LAPs6”—which Arkham has identified as a Mt. Gox cold wallet—was also made. The funds haven't yet been moved to any other addresses.

According to Arkham on X, last week, BitGo, a cryptocurrency exchange, likely moved the majority of the $2 billion in bitcoin that it had received from Mt. Gox into another wallet.

The Mt. Gox trustee designated Bitstamp as one of the centralized exchanges to handle the distribution of bitcoin repayments to the creditors of the now-defunct cryptocurrency exchange. A number of exchanges have already sent the repayments, including Kraken.

Early in July, the now-defunct exchange started paying back creditors who had been hacked in 2014. In the upcoming months, traders will receive distributions totaling over $9 billion in Bitcoin and $73 million in Bitcoin Cash (BCH). The large movement of funds for the past few weeks may signify that the Mt. Gox creditor repayments are close to completion.

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