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Today, the price of Bitcoin (BTC) fell to $60,000, losing its recent gains. Despite a brief rally over $65,500 during Asian trading hours on August 2, Bitcoin’s price dropped 7.61% over the past day. At the time of writing, Bitcoin traded at $61,672 with a market cap of $1.21 trillion.
Mt. Gox moved over $700 million worth of Bitcoin to unknown wallets, its first major transaction in weeks. The defunct exchange still owes billions to victims of its 2014 hack.
On August 13, 10:57 UTC, a wallet with the address bc1q26.. that received $2.19 billion in Bitcoin from Mt…
Digital asset investments see significant inflows of $441 million, driven by Bitcoin price weakness, Mt. Gox activity and a German government sell-off, according to a CoinShares report.
Bitcoin's price plunged below $55,000 as the now-defunct Mt Gox exchange began distributing billions in owed funds to creditors, sparking a broader Bitcoin and crypto market sell-off.
After over a decade of suspense, creditors of the defunct Mt. Gox Bitcoin (BTC) exchange have finally begun receiving long-awaited payouts this month. Data from research firm Glassnode shows that as of Tuesday, 59,000 of Mt. Gox’s 142,000 BTC had already been distributed to creditors via the Kraken and Bitstamp exchanges, with another 79,600 BTC to [...]
The post Mt.Gox Creditors Reclaim 59,000 Bitcoin Via Exchanges, More Redistribution Imminent appeared first on Crypto Breaking News.
Mt. Gox's rehabilitation trustee transferred around $6 billion worth of Bitcoin to new wallets, taking further steps to reimburse creditors from the exchange's infamous 2014 hack.
Defunct Bitcoin exchange Mt. Gox announced it will finally begin distributing assets stolen in its 2014 hack to victims starting in July 2024, after years of delays.
Mt. Gox, a bankrupt Bitcoin exchange based in Shibuya, Tokyo, Japan, has executed a large-scale Bitcoin transfer to several unknown wallets. This move has effectively spooked the broader cryptocurrency market, sparking concerns about potential selling pressures. Mt Gox Transfers Over $2.9 Billion Worth Of Bitcoin On May 27, Blockchain analytics platform, Arkham Intelligence unveiled a massive Bitcoin transaction initiated by Mt. Gox. The bankrupt Bitcoin exchange transferred a whopping 42,830 BTC valued at $2.9 billion, into several unknown wallets, marking the first transfer in five years. Related Reading: Crypto Analyst Predicts 28,900% Rally To $154 For XRP Price, Heres When The reason for this transfer remains unclear, however, the transaction comes after Mt. Goxs recent announcement of reorganization plans to compensate its creditors and customers who were victims of its hack attack and bankruptcy in February 2014. Furthermore, these large-scale transactions have unsettled the crypto market, with many speculating about the potential impact on Bitcoins value. One crypto member disclosed that it might be time to dump BTC, suggesting that a potential sell-off could significantly impact the market. With Bitcoin already falling by 4.41% over the week, and trading below $70,000 at $67,834, a sell-off could trigger more price decreases for the cryptocurrency. Mt. Gox Goes On BTC Transfer Spree Following its 42,830 Bitcoin transfer, Blockchain tracker and analytics platform, Whale Alert revealed that Mt. Gox had executed a series of transactions on the same day. With just a few hours between each transaction, Mt. Gox initiated over five large-scale Bitcoin transfers. The first two transfers discovered by Whale Alert involved 3,999 BTC and 8,239 BTC worth approximately $277.6 million and $565 million respectively. The subsequent transactions saw Mt. Gox transferring 14,057 BTC and 16,589 BTC, valued at about $966.3 million and $1.1 billion, respectively. Mt. Goxs largest transaction was a staggering 34,138 BTC valued at $2.3 billion, sent to an unknown wallet. The Bitcoin exchange also transferred another massive 32,137 BTC and 32,499 BTC, valued at approximately $2.1 billion and $2.2 billion respectively. In total, Mt. Gox moved over 141,659 BTC worth more than $9.6 billion in a single day to several unidentified wallet addresses. Mike Deutscher, a crypto analyst and avid Decentralized Finance (DeFi) supporter, has noted that such a significant Bitcoin transaction was likely to induce selling pressures in the Bitcoin market. He emphasized that any Fear, Uncertainty and Doubt (FUD) related to Mt. Goxs transfers should be viewed as a prime opportunity to accumulate more Bitcoin. Related Reading: Crypto Analyst Says XRP Price Will Crash 80% To $0.10, Whats The Trigger? Additionally, Deutscher reassured community members, stating that he was not concerned about the possible impacts of Mt. Goxs large-scale transactions on the market. He pointed to the Bitcoin exchanges disclosure of its 200,000 Bitcoin reimbursement plans to creditors since January 2024 as grounds for his confidence. Another crypto member, Mark Karpeles, also alleviated the communitys fears about Mt. Goxs Bitcoin transfers. As far as I know everything is fine with MtGox. The trustee is moving coins to a different wallet in preparation of the distribution that will likely happen this year; there is no imminent sale of bitcoins happening, Karpeles stated. Featured image from Zipmex chart from Tradingview.com
The move is ahead of the defunct crypto exchanges plan to return BTC holdings to creditors before October 31, 2024.
On Thursday, the long-defunct crypto exchange moved over $1 billion worth of Bitcoin to an unmarked address.
Mt. Gox caused a stir early Tuesday, transferring huge amounts of Bitcoin (BTC) to two wallets.
The transfer came as Bitcoins price plummeted to a four-month low amid growing trade tensions and concerns over inflation.
Carnage thanks to a disproved scare over Mt. Gox bitcoins destroys large amounts of BTC open interest and trading positions in hours.
Creditors of Mt. Gox will now have an extra month to register. There has been a one-month extension given to
While FTX’s collapse last year rattled the Bitcoin ecosystem, nine years ago a bigger failure damaged it even more. What does that teach us?
The first payback instalment from Mt. Gox has been postponed by two months, from July 31 to September 30 per
Bears are better positioned to profit roughly $215 million during November's Ether options expiry, putting pressure on ETH's price near a critical resistance level.
Tragic price crashes in the aftermath of a collapse or crypto heist victimize Bitcoin. This year’s cascade of collapses –
On February 24, 2014, infamous bitcoin exchange Mt. Gox went offline after 744,000 BTC — worth billions of dollars today — was stolen.
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