Mt.Gox Moves $2.8B in Bitcoin

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According to data from Arkham Intelligence, a wallet associated with Mt.Gox sent approximately 42587.49 BTC (worth $2.82 billion) to a new address at around 5 a.m. UTC on Tuesday.

This movement is believed to be part of Mt.Gox’s ongoing process of repaying $9 billion worth of Bitcoin to its creditors. Along with this transfer, the Mt.Gox wallet also moved 5,110.16 BTC to its cold storage address, ending with “1Jbez.”

On Monday, the defunct exchange also sent a smaller amount of Bitcoin, worth around $1,400, to various addresses.

One of these addresses belongs to Bitstamp crypto exchange, according to data from Arkham.

Bitstamp, which was chosen by the Mt.Gox trustee to distribute Bitcoin payouts to creditors, stated earlier this month that it plans to distribute the tokens as soon as they are received.