In the first few hours, Mt.Gox moved 140,000 bitcoins worth $9 billion to an unknown address, presumably as part of a plan to pay off creditors. Moreover, the flagship coin fell at this time by about 2.5% under pressure from expected sales.
Mt.Gox, once the largest bitcoin exchange in the world (serving about 70% of all trades), closed in 2014 after losing 800,000 bitcoins following a hacker attack. Creditors have been waiting for their money for 10 years and it looks like they will get it.
As noted by CoinDesk, a recent activity of the wallet Mt. Gox wallet activity displayed 13 transactions — along with test transactions for $3 and $160, and larger ones from $1.2 to $2.2 billion in bitcoin (a total of about $9 billion in 140 thousand bitcoins).
According to Julio Moreno, head of research at CryptoQuant, all coins have been moved to «1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6».
Currently, Mt.Gox is currently nearing the end of the closing process and is expected to distribute bitcoins to creditors in stages by October 31, 2024.
The creditors of FTX, the third largest crypto exchange in the world, are currently in a similar situation, having faced a liquidity crisis in 2022. The situation with Mt.Gox situation raises hopes for a refund to customers, but potentially not very fast and not necessarily in cryptocurrency.