Mt. Gox, the defunct Japanese cryptocurrency exchange, moved 10,306 BTC (valued at approximately $731 million) to a new wallet on Thursday, signaling continued progress in its long-delayed creditor repayment process. The transfer marks another significant milestone in the rehabilitation effort that has stretched over a decade since the exchange's 2014 collapse.
In a related transaction, 116.3 BTC worth $8.16 million was transferred from Mt. Gox to Bitstamp, a major cryptocurrency exchange platform. The movement to Bitstamp suggests preparation for potential liquidation or distribution of assets as the rehabilitation trustee continues executing its repayment plan for creditors who lost funds in the infamous hack.
Mt. Gox's estate holds approximately 141,686 BTC and 142,236 BCH (Bitcoin Cash), making it one of the largest holders of cryptocurrency globally. The latest wallet movements underscore accelerating activity in the rehabilitation process, which earlier this year saw the trustee announce plans to begin distributing recovered assets to eligible creditors after years of legal proceedings and asset recovery efforts.