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![](\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MjA3Mzc3MTI4NTIwNDI2OTEx\/mt-gox.jpg\")
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The rehabilitation trustee for the now-defunct Mt. Gox<\/a> exchange moved over $6 billion worth of bitcoin on Tuesday morning as it took further steps toward reimbursing creditors.<\/p>\n JUST IN: Mt. Gox moved 95,870 #Bitcoin<\/a> worth $6 billion to unknown addresses \ud83d\udc40 pic.twitter.com\/duCIiVPcsK<\/a><\/p>\n — Bitcoin Magazine (@BitcoinMagazine) July 16, 2024<\/a><\/p><\/blockquote>\n On-chain data<\/a> shows that Mt. Gox’s wallet transferred around 95,870 BTC across two transactions to newly-created addresses. The first shift of 47,000 bitcoin was valued at nearly $3 billion.<\/p>\n The destination wallets remain unidentified but are presumed to be linked to Mt. Gox’s ongoing repayment process. The exchange owes creditors $9 billion in total, stemming from Bitcoin lost in Mt. Gox’s infamous 2014 hack.<\/p>\n Saturday’s large transactions follow initial smaller test transfers last week as Mt. Gox prepared to distribute funds. Analysts have feared the payouts could weigh on Bitcoin’s price<\/a> if creditors immediately liquidate holdings.<\/p>\n So far, the transfers have coincided with dips below $64,000 as markets reacted cautiously. But the expectation remains that most creditors will hold the restored coins rather than rush to sell.<\/p>\n While unnerving for traders, the long-awaited Mt. Gox reimbursement will close the book on one of the Bitcoin industry’s most infamous episodes. Tens of thousands of early adopters lost holdings when the pioneering exchange collapsed.<\/p>\n Over eight years later, creditors will finally recoup some of those early losses. The saga underscores Bitcoin’s resilience and the community’s commitment to accountable custody and transparent transactions.<\/p>\n\n