Mt. Gox reactivates Bitcoin wallet, makes small transfer to Bitstamp
Key Takeaways
- Mt. Gox sent 0.021 Bitcoin to Bitstamp early today, following Kraken’s Bitcoin and Bitcoin Cash distribution last week.
- Bitstamp is identified as one of the exchanges handling Mt. Gox’s creditor repayments.
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Mt. Gox, the once-prominent crypto exchange, initiated a minor Bitcoin transaction on Monday. According to data from Arkham Intelligence, a wallet associated with Mt. Gox transferred 0.021 Bitcoin to Bitstamp, a designated exchange for creditor repayments.
The latest transfer signals Mt. Gox’s preparations for substantial customer repayments. Following Kraken, Bitstamp could be next in line to get Bitcoin and Bitcoin Cash from Mt. Gox’s trustee.
Last week, Kraken confirmed it had received Bitcoin and Bitcoin Cash from Mt. Gox and that funds would be sent within 7 to 14 days to customers.
Mt. Gox’s trustee initiated the repayment process earlier this month. Crypto exchanges like Kraken, Bitstamp, and Bitbank are set to distribute the funds to their clients within 90 days of receipt.
At the time of reporting, Mt. Gox’s wallet still holds $6.09 billion worth of Bitcoin, Arkham’s data shows.
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Author: Vivian Nguyen
