In the midst of continuous creditor repayments, Mt. Gox recently transferred a sizeable portion of Bitcoin to the Bitstamp cryptocurrency exchange.
The first transaction took place today at 04:46 UTC, according to on-chain data from Arkham Intelligence. It involved the movements of 32,371 BTC, valued at $2.13 billion, to the newly activated address “12Gws9,” and 5,106 BTC, valued at $336.61 million, to the Mt. Gox Cold Wallet (1Jbez).
The entire sum comes to $2.47 billion. The most recent round of transactions occurred soon after the defunct Bitcoin exchange moved 47,000 BTC to two new addresses yesterday, July 23, according to data from Arkham Intelligence.
Interestingly, the Mt. Gox Cold Wallet (1Jbez) moved the 5,106 BTC tokens to a Bitstamp address within a few minutes after receiving the payments. Mt. Gox also sent Bitstamp 2,238 BTC yesterday, soon after a string of test transactions on July 22.
These deposits onto Bitstamp imply that the platform may be preparing to pay back debts, particularly given that Kraken users have already started attesting to repayments. On July 16, Kraken confirmed that it had received the tokens.
The new wallet in question, 12Gws9, has managed to hang onto the 32,371 BTC it received earlier today despite the recent wave of transactions. Meanwhile, the balance of the address (15yPU) that handled the first transaction is currently empty.
Mt. Gox has been moving thousands of Bitcoin since July 5, when it declared it would start paying back creditors. Eventually, most of these tokens will go to centralized exchanges that will take responsibility for starting these repayments.
The massive transfer of 96,390 BTC to unknown addresses by the now-defunct Bitcoin exchange occurred on July 16, the same day Kraken verified creditor balances. The market has not been affected as anticipated by the most recent moves, though, as BTC is currently trading at $66,360, down 0.85% over the last day.
