Defunct cryptocurrency exchange Mt. Gox recently moved a significant amount of Bitcoin, totaling 12,240 BTC, equivalent to approximately $840 million, to a new wallet. Data from Arkham Intelligence indicates this transfer occurred within the past hour.
Following this transfer, Bitcoin experienced a slight decline in price, dropping below $68,500, according to CoinGecko's data. Despite this movement, there remains a substantial balance of approximately $9.7 billion in the wallet.
Mt. Gox BTC transfer on May 27 – Source:Arkham Intelligence
Established in 2010, Mt. Gox was once a dominant force in the cryptocurrency market, handling 70% of Bitcoin transactions worldwide. However, the exchange suffered a devastating cyberattack in 2014, resulting in significant losses of Bitcoin for both the exchange and its users.
Mt. Gox reported a loss of around 750,000 BTC belonging to customers and an additional 100,000 BTC from its own funds. While efforts to recover some of the lost BTC were partially successful, legal complexities in Japan have hindered the restitution process for victims.
In 2021, Japanese courts approved a compensation plan for Mt. Gox creditors. The exchange's current assets include 142,000 BTC, 143,000 BCH (Bitcoin Cash), and 69 billion Japanese yen.
The repayment process to creditors is scheduled to begin before October 31. Creditors will have the option to receive repayments in Japanese yen, Bitcoin, or Bitcoin Cash, depending on their preferences.
Mt. Gox's recent Bitcoin transfer highlights ongoing developments in the exchange's restitution process and the management of its remaining assets. While the transfer triggered a temporary market reaction, the impending repayment to creditors signifies progress in addressing the aftermath of one of the cryptocurrency industry's most significant incidents.
Metaplanet bought 518 more bitcoins for about $61.4 million, bringing its total holdings to 18,113 BTC. The company uses creative financing methods to keep buying and aims to hold 210,000 BTC by 2027.
WeatherlyEthereum co-founder Vitalik Buterin’s on-chain portfolio has surged past the $1 billion mark, fueled by Ether’s recent price rally, according to blockchain intelligence firm Arkham.
XingChiBlue Origin now accepts Bitcoin, Ethereum, Solana, and stablecoins for booking space flights through a partnership with Shift4. This move aims to make high-cost space tourism payments easier for digital asset holders using popular crypto wallets.
WeatherlyEl Salvador has just approved it new Investment Banking Law, which allows investment banks to not only hold Bitcoin and other digital assets but also to offer full crypto services, but only to "sophisticated investors."
XingChiHarvard Management Company purchased around $117 million in BlackRock’s Bitcoin ETF as part of its public portfolio. This investment highlights increased institutional involvement in regulated cryptocurrency funds.
WeatherlyJust as the United States is entering into a new chapter of its crypto policy, a crucial member of this revolution has just announced his sudden resignation from the Trump administration.
XingChiPhysical attacks on crypto holders, known as “wrench attacks,” are rising worldwide in 2025, with criminals targeting victims to steal their private keys. Data leaks from exchanges have made it easier for attackers to find and threaten people, leading to more kidnappings and assaults.
AnaisEthereum is capturing market attention once again, with analysts widely forecasting a major breakout that could send ETH soaring to the $5,000 level and beyond.
XingChiBakkt is acquiring nearly 30% of a Japanese textile company to transform it into a bitcoin-focused business called bitcoin.jp. The company aims to integrate digital assets into its operations and corporate treasury.
WeatherlyFrance’s far-right Rassemblement National (RN) has proposed using surplus nuclear energy to mine Bitcoin-a move that is dramatically contradictory to Marine Le Pen's 2016 promise to ban virtual currencies.
XingChiSling Money, which is building a blockchain-based app for peer-to-peer international money transfer, has raised $15 million in Series A Funding.
XingChiThe removal of its iOS and Chrome Extension wallets from the market is scheduled for November 1, 2023, although customers will still be able to access their wallets until October 1.
Coinlive The messaging feature will support the 1.3 million Ethereum addresses using the wallet that are human-readable and/or ENS-enabled.
nftnowOn June 20, the lending platform will reopen the withdrawal service for customers and allow the withdrawal of 35% of crypto assets.
OthersAs per the details from a tweet thread by Coinbase, iOS users will be unable to send NFTs from their wallets on iOS devices anymore.
OthersCardano's development team, Input Output has created a new light wallet which is called Lace. This new wallet comes with ...
BitcoinistWallet.app is launching the next stage in its EU-based, fully compliant crypto custody wallet, exchange and payment platform that will ...
BitcoinistMoneyGram CEO Alex Holmes said the international remittances stalwart wants to be a bridge between the crypto and fiat worlds.
CointelegraphNew features include buying/selling crypto and converting to supported coins in wallet Divi Labs, a specialist decentralized payment ecosystem provider ...
BitcoinistCoinbase is rapidly expanding its product line this month, and some users can now access DeFi and other DApps on Ethereum through the Coinbase app.
Cointelegraph