Mt. Gox Transfers $739 Million in Bitcoin Amid Approaching Repayment Deadline

Odaily reported that, according to Arkham monitoring, the bankrupt crypto exchange Mt. Gox transferred 10,422.65 Bitcoin today from its cold wallet, worth over $739 million. The majority of these funds were sent to a new wallet, with 116.30 Bitcoin routed to a known Mt. Gox hot wallet.

This transaction does not indicate that Mt. Gox has sold the Bitcoin or initiated a new round of creditor repayments. Due to incomplete creditor procedures and processing delays, the liquidation trustee has extended the repayment deadline to October 31, 2026. Currently, Mt. Gox still holds approximately 35,000 Bitcoin awaiting distribution, worth about $2.4 billion. (decrypt)