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Mt. Gox moves $9.6B worth of Bitcoin. Are creditors finally being repaid?

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The transfer represents the first significant on-chain movement from Mt. Gox-related wallets in the past five years, ahead of the October 2024 repayment deadline.

These transfers are seen as a potential indication that users who have been unable to access their funds since 2014, when Mt. Gox suspended trading and withdrawals, might finally be repaid.

"The Rehabilitation Trustee is preparing to make repayment for the portion of cryptocurrency rehabilitation claims to which cryptocurrency is allocated... As the Rehabilitation Trustee is proceeding with the preparation for the above repayments, please wait for a while until the repayments are made. Mt. Gox was one of the earliest cryptocurrency exchanges, once facilitating more than 70% of all trades made within the blockchain ecosystem.

 

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Mt.Gox Moves $7B Bitcoin as Part of Repayment Plans, Sparking BTC Price PlungeShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Source: CoinDesk - 🏆 291. / 63 Read more »