Defunct Bitcoin exchange Mt.Gox has moved 32,371 BTC worth an estimated $2.19 billion to three new addresses. Several on-chain transaction trackers caught the movement, including Spot On Chain and Arkham Intelligence. Bitcoin Transferred to New Wallets Spot On Chain’s data shows the platform initially moved 30,371 BTC to a wallet starting with 1FG2…Rveoy. It then...Read More
The bankrupt Mt. Gox Bitcoin exchange transferred 13,265 BTC worth around $784 million on Aug. 21, according to Arkham Intelligence. 12,000 BTC were then directed to a new address, while the remaining 1,265 went into a cold wallet associated with Mt. Gox. It is the first major movement of BTC by the exchange trustee in three...Read More
On-chain analysis platform Arkham Intelligence sounded the alarm on Tuesday as $2 billion worth of Bitcoin connected to Mt. Gox moved from a blockchain address connected to crypto exchange BitGo. According to Arkham, a wallet that had received $2.19 billion from the long-defunct Bitcoin exchange began initiating test transactions early Tuesday. The firm said the...Read More
Since the beginning of the month, bitcoin (BTC) flows into crypto exchanges have been on the rise. This is primarily due to creditor distributions by the rehabilitation trustee of the defunct BTC trading platform Mt. Gox. Data from blockchain analytic platform IntoTheBlock has revealed that July 25 saw the exchange BTC net flows hit a...Read More
Beginning in early July, the defunct crypto exchange – Mt. Gox – initiated repayments to creditors affected by the 2014 hack. While Kraken has completed the distribution of all the Bitcoin and Bitcoin Cash owed to Mt. Gox creditors, the former’s price remained stable. This could be due to the fact that creditors on Kraken...Read More
Bitcoin movements from the rehabilitation trustee of the defunct crypto exchange Mt. Gox are still ongoing. The wallet linked to the defunct entity just moved $2.47 billion worth of bitcoins (BTC) to an unknown address. According to data from the blockchain intelligence platform Arkham, the wallet transferred 32,371 BTC to the unlabelled address at around...Read More
On July 17, the founder and CEO of on-chain analytics firm CryptoQuant told his 355,000 X followers that the Mt. Gox FUD is overestimated. He referenced a growth rate chart stating that Bitcoin market capitalization increase is outpacing realized capitalization growth, “showing strong demand.” Since last year, $224 billion in Bitcoin sold, yet prices are...Read More
Kraken has announced the receipt of funds from the Mt. Gox Rehabilitation Trustees on July 16th. This marks a significant step towards compensating those impacted by the historic collapse of the Mt. Gox exchange a decade ago. In an email to the affected parties, the exchange said it plans to begin distributing Bitcoin (BTC) and Bitcoin...Read More
On July 16, Mt. Gox began transferring BTC as it prepares to pay back customers who lost assets in the devastating exchange hack a decade ago. According to Arkham Intelligence, a Mt. Gox-linked wallet moved 0.021 BTC to another address. Industry observer Colin Wu suggested that this could be a transfer test. Mt. Gox Moves Bitcoin...Read More
After a decade of waiting, July might finally bring restitution to the users of the now-defunct Mt. Gox exchange. However, it appears that market players are on edge regarding the distributions and fear further sell-offs. It is important to understand that Bitcoin has already been on a decline since the beginning of June and has...Read More
The defunct cryptocurrency exchange Mt Gox has finally commenced creditor repayments ten years after filing for bankruptcy. According to an announcement from the Mt Gox Rehabilitation Trustee, the defunct estate distributed bitcoin (BTC) and Bitcoin Cash (BCH) payments to some creditors on July 5 through designated crypto exchanges linked with the repayment plan. Mt Gox...Read More
On June 24, the Mt. Gox rehabilitation trustee issued a letter regarding repayments to creditors commencing at the beginning of July 2024. “The Rehabilitation Trustee has been preparing to make repayments in Bitcoin and Bitcoin Cash under the Rehabilitation Plan,” it stated. The move comes after extensive preparations to ensure safe and compliant repayments, it...Read More
Analysts from the market intelligence platform CryptoQuant say the recent bitcoin (BTC) moves by the defunct crypto exchange Mt. Gox are no cause for alarm and would cause no immediate selling pressure on the digital asset. According to the latest weekly report from the analytics firm, the transfers were executed between Mt. Gox’s trustee addresses...Read More
On May 28, on-chain analysts observed that Mt. Gox distributions appeared to be underway. Around 42,900 BTC worth around $2.9 billion was being moved at the time though there could be as much as $6 billion worth. Analyst James Check said that the Mt. Gox event is going to be “a fantastic case study for...Read More
The creditors of the defunct cryptocurrency exchange Mt. Gox have reportedly begun to receive payments of their claims ten years after the platform collapsed due to insolvency. According to several posts and comments on Reddit, creditors who chose PayPal as their preferred mode of payment have started receiving their Bitcoin (BTC) and Bitcoin Cash (BCH)...Read More
Mt. Gox intends to initiate cash repayments to creditors soon, almost a decade after it ceased operations. In an email to its creditors today, the defunct Bitcoin exchange revealed that the rehabilitation trustee is actively working towards commencing cash repayments in the course of the 2023 calendar year. Due to the substantial number of rehabilitation...Read More
In an ongoing saga that has gripped the cryptocurrency world for almost a decade, Nobuaki Kobayashi, the trustee overseeing the bankruptcy proceedings of Mt. Gox, just recently announced a one-year deadline extension for repaying creditors. According to a court document released on Sept. 21, Kobayashi outlined his hopes that repayments to creditors who have actively...Read More
After over a decade, the Department of Justice (DOJ) has tracked down and charged the hackers who stole hundreds of thousands of Bitcoin from the defunct crypto exchange giant Mt. Gox. The primary criminals identified are Russian nationals Alexey Bilyuchenko (43) and Aleksandr Verner (29). Mt Gox Hackers Found As stated by the DOJ in...Read More
The largest creditors of bankrupt cryptocurrency exchange Mt. Gox have chosen a payment option that will allow them to receive a lump sum of their recovery payout in bitcoins rather than fiat. The creditors, now-defunct crypto exchange Bitcoinica and Mt Gox Investment Fund (MGIF), collectively represent about one-fifth of the bankruptcy claims. Gox Biggest Creditors...Read More
Creditors of the defunct cryptocurrency exchange Mt. Gox have received more time to select and register how they wish to receive compensation from the company. According to a document from the exchange’s trustee Nobuaki Kobayashi, the registration deadline, which was previously set as January 10, 2023, has been extended to March 10 (Japan time) after...Read More
A crypto wallet attributed to the failed BTC-e linked to the 2014 Mt. Gox hack moved 10,000 Bitcoin, now worth over $165 million, to a group of personal wallets, exchanges, and other services on November 23rd. A report by Chainalysis suggested that the funds’ movement marks the largest withdrawal by the Russia-focused cryptocurrency exchange –...Read More
On Nov. 24, analytics firm Chainalysis made the Mt.Gox comparison as it was not the first time the crypto world has been shaken due to an exchange demise. Mt.Gox was the first Bitcoin exchange, but it collapsed in February 2014. Crypto survived and thrived, and it will do so again despite all the mainstream media...Read More
Mt. Gox creditors could be one step closer to reclaiming their funds after nearly a decade of waiting. This is as the Rehabilitation Trustee has released a deadline for them to select their preferred repayment method. Nobuaki Kobayashi, the man in charge of the Mt. Gox rehabilitation process, published a new update for creditors on...Read More
Eric Wall, a creditor of Mt. Gox, confirmed that new reports swirling that 137,000 BTC sent to creditors would soon be dumped on the market are false. In a recent Twitter thread, Wall said the repayment system is not live yet. While addressing the rumors floating around across social media channels, the former CIO at...Read More
Failed cryptocurrency exchange Mt. Gox has provided an update on its repayment procedures under its creditor rehabilitation plan. The exchange states that the “Rehabilitation Trustee” – Nobuaki Kobayashi – is preparing to make his repayments in line with the exchange’s approved rehabilitation plan. Kobayashi published an accompanying report related to both repayment procedures and his...Read More
The trustee responsible for handling the Mt. Gox hack and the victims’ claims has updated that the rehabilitation plan was approved by the majority of creditors. Consequently, the creditors could receive roughly $9 billion in BTC by the end of the year. Mt. Gox was once the biggest cryptocurrency exchange responsible for 70% of the...Read More
Nearly $5 billion in bitcoin could make their way back to Mt. Gox users following a deal between creditors and CoinLab. Nevertheless, the agreement is still reportedly subject to creditor acceptance. Bloomberg reporter Matt Leising offered a brief explanation of the story earlier today, noting that CoinLab has reached a deal with Mt. Gox creditors...Read More
The long wait for the victims of the Mt. Gox hack might find respite in the coming days as the trustee has finally submitted the draft rehabilitation plan. According to an official announcement, Nobuaki Kobayashi has filed a draft rehabilitation plan to compensate users who fell victim to hacks suffered by the exchange. As per...Read More
Mt. Gox users fallen victim to an infamous hack in 2014 are closer to receive reimbursement as the debunked exchange’s trustee finally filed a draft rehabilitation plan. The Tokyo District Court and an examiner will now review the proposal and determine the following steps. CryptoPotato reported in October that the Tokyo District Court had issued...Read More
Another week passed on the cryptocurrency market, and it surely wasn’t a boring one. The cryptocurrency started off strong, causing many to believe that it might finally breach the coveted $12,000 mark. However, the excitement was short-lived because, just today, news broke out that the founder of OKEx, one of the primary cryptocurrency exchanges, has...Read More
