{"id":255929,"date":"2024-08-21T12:31:51","date_gmt":"2024-08-21T12:31:51","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/21\/mt-gox-moves-over-700-million-in-bitcoin\/"},"modified":"2025-06-25T17:11:58","modified_gmt":"2025-06-25T17:11:58","slug":"mt-gox-moves-over-700-million-in-bitcoin","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/21\/mt-gox-moves-over-700-million-in-bitcoin\/","title":{"rendered":"Mt. Gox Moves Over $700 Million in Bitcoin"},"content":{"rendered":"

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The notorious Mt. Gox<\/a> exchange has made its first major Bitcoin transaction in weeks, shifting over $700 million worth of BTC to unknown wallets.<\/p>\n

According to data tracked by Arkham Intelligence<\/a>, Mt. Gox moved 12,000 BTC worth $709 million to one address and 1,265 BTC worth $75 million to another early Wednesday. The recipient addresses are unknown, sparking speculation that Mt. Gox could distribute more coins to creditors from its remaining Bitcoin hoard.<\/p>\n

Mt. Gox owes billions to depositors affected by its massive 2014 hack. The exchange has been slowly reimbursing victims, putting selling pressure on markets this summer.\u00a0 They have returned about 68% of lost user funds so far. But the defunct exchange still holds around 34,000 BTC worth nearly $2 billion even after this week’s transfers.\u00a0<\/p>\n

The market remained unfazed by Mt. Gox’s latest Bitcoin movement, with BTC holding above $59,000<\/a>. Some analysts think the selling pressure from reimbursements is fading as creditors opt to hodl coins.<\/p>\n

Mt. Gox victims have defied expectations by seemingly holding rather than instantly selling their returned bitcoin. Many early adopters view Bitcoin as a long-term investment and are reluctant to sell.<\/p>\n

While it is unclear if the latest transfer will be sold, it marks Mt. Gox’s first major BTC shift since late July<\/a>. Such on-chain movements often precede distributions to creditors.<\/p>\n

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[ad_1] The notorious Mt. Gox exchange has made its first major Bitcoin transaction in weeks, shifting over $700 million worth of BTC to unknown wallets.<\/p>\n","protected":false},"author":1,"featured_media":255930,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[172],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/255929"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=255929"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/255929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/255930"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=255929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=255929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=255929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}