Mt. Gox recently moved a significant amount of Bitcoin to the Bitstamp cryptocurrency exchange amid ongoing creditor repayments.
On-chain data from Arkham Intelligence reveals the initial transaction occurred today at 04:46 UTC, involving the movement of 32,371 BTC worth $2.13 billion to the address ‘12Gws9’ and 5,106 BTC valued at $336.61 million to the Mt. Gox Cold Wallet (1Jbez). The total transaction amount reaches $2.47 billion.
According to Arkham Intelligence, this batch of transactions follows the transfer of 47,000 BTC to two new addresses by the bankrupt Bitcoin exchange yesterday, July 23.
Interestingly, minutes after receiving the funds, the Mt. Gox Cold Wallet (1Jbez) transferred the 5,106 BTC tokens to a Bitstamp address.
Bitstamp also received 2,238 BTC from Mt. Gox yesterday, shortly after a series of test transactions on July 22. These inflows suggest that Bitstamp may be preparing to repay creditors, as Kraken users have already begun confirming repayments. Kraken acknowledged receiving the tokens on July 16.
Meanwhile, amid the latest transactions, the new wallet ‘12Gws9’ holds the 32,371 BTC received earlier today. The address (15yPU) responsible for the initial transfer currently holds an empty balance.
Since announcing its intentions to begin creditor repayments on July 5, Mt. Gox has continued to shuffle thousands of Bitcoin. Most of these tokens eventually move to centralized exchanges for repayments.
The defunct Bitcoin exchange transferred 96,390 BTC to unknown addresses on July 16, coinciding with Kraken’s confirmation of creditor balances. However, the latest transactions have not affected the market as anticipated, with BTC currently trading at $66,360, down 0.85% over the past 24 hours.
