Mt. Gox transfers 5,106 BTC to Bitstamp Wallet

Mt. Gox resumed its reparations by transferring 5,106 Bitcoin, valued at approximately $335 million, to the crypto exchange Bitstamp and an unidentified address.

At 6:16 am UTC, Arkham Intelligence data indicates that two transfers of 5,106 Bitcoin were dispatched. Bitstamp received 2,237 BTC valued at $147 million, while an unknown address received approximately 2,869 BTC.

The funds were promptly transferred to a wallet that began with “12azL” and was unknown, and a final transfer was made to addresses associated with Bitstamp.

Bitstamp is the Destination

This arrangement facilitates the allocation of repayments to specific creditors by dividing the $355 million in BTC into direct and indirect routes to various Bitstamp wallets.

On July 5, the defunct exchange issued a repayment announcement that corresponded with the change in BTC holdings by Mt. Gox. The statement declared it would swiftly disseminate the funds owed to creditors in Bitcoin and Bitcoin Cash.

Creditors Anticipate Repayments

Bitstamp is one of the five exchanges collaborating with Mt. Gox to expedite the Rehabilitation Plan repayments process and is assisting in returning funds to creditors.

As per CryptoQuant data, the creditors of Mt. Gox have received more than 66% of the BTC due to them.

Currently, Mt. Gox has 90,344 BTC worth approximately $6 billion, per Arkham Intelligence data. However, this information has remained unchanged for the past 48 hours.

On July 23, Cointelegraph reported that the holdings had decreased to approximately 42,744 BTC, equivalent to $2.85 billion, following the distribution of over 47,500 BTC by Mt. Gox.

At 4:53 am UTC on July 24, 37,477 BTC were transmitted, and a subsequent 5,106 BTC were transmitted at 6:16 am UTC, totaling 42,583 BTC that were transmitted within the previous four hours.

The Arkham-tracked Mt. Gox entity possesses only 161 BTC, valued at a mere $10 million, after subtracting the four-hour outflow from the holdings reported on July 23.