Mt. Gox Moves $3B Bitcoin to New Wallet, $130M to Bitstamp Exchange

Mt. Gox, the defunct cryptocurrency exchange, made significant moves yesterday, transferring $3 billion worth of bitcoin to new wallets and sending $130 million to Bitstamp exchange. This follows a series of payments made by Mt. Gox to compensate customers affected by a hack that occurred a decade ago. The repayment process began earlier this month, and the exchange still has over $6 billion worth of BTC to distribute. In the recent transfer, Mt. Gox moved 37,400 BTC to a new wallet named “12Gws9E” and another $300 million to an existing cold wallet. Additionally, $130 million was sent to Bitstamp. Despite these movements, the prices of BTC remained relatively stable, hovering between $66,000 and $67,000. These actions mirror similar transactions from the previous day when Mt. Gox sent $130 million to Bitstamp and shuffled $2.5 billion between wallets. Some creditors on Kraken, another cryptocurrency exchange, also reported receiving bitcoin repayments into their personal accounts. As part of the repayment initiative, Mt. Gox plans to distribute over $9 billion worth of BTC and $73 million of bitcoin cash to traders affected by the 2014 hack in the coming months.