Cryptocurrency
Mt. Gox Repays $335 Million in Bitcoin to Bitstamp and Unknown Address
Wednesday. July 24 at 6:00 PM
1 min. readMt. Gox made repayments on July 24 by transferring 5,106 Bitcoin, valued at $335 million, to Bitstamp and an undisclosed address. The transfers, according to Arkham Intelligence data, included 2,237 BTC to Bitstamp and 2,869 BTC to the unknown address. The funds were then moved to different Bitstamp wallets, possibly for easier creditor repayment allocation. This aligns with Mt. Gox's announcement on July 5 to promptly distribute owed funds in Bitcoin and Bitcoin Cash. Bitstamp, one of the exchanges assisting in the Rehabilitation Plan repayments, has already distributed over 66% of the owed BTC. Despite holding 90,344 BTC worth $6 billion, recent data shows Mt. Gox's holdings reduced to 161 BTC, valued at $10 million, after significant outflows. The entity continues its repayment process with the help of exchanges like Bitstamp.