Speculation Over Bitgo’s Role in $2.1B BTC Distribution as Dormant Mt. Gox Wallet Activates
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
The reactivation of a dormant Mt. Gox wallet, containing over $2.1 billion in Bitcoin, ignited speculation about its implications for the ongoing creditor repayment process.
This Mt. Gox wallet, managed by Bitgo and holding 33,105 Bitcoin (approximately $1.96 billion at the time of writing), made a test transaction at 10:57 UTC after two weeks of inactivity.
This development comes as the Mt. Gox asset distribution approaches its final stages, carrying considerable weight for both creditors and the market.
The wallet, identified by its address “bc1q26,” previously received these funds on July 30 when Bitcoin’s value was higher, amounting to $2.19 billion.
According to data from Arkham Intelligence, Bitgo’s involvement in the distribution is crucial for returning funds to Mt. Gox creditors.
Further activity from this wallet suggests that Bitgo is conducting final preparations before distributing the remaining funds.
JUST IN: MOVEMENTS FROM $1.95B MT GOX BTC WALLET
A Wallet that received $2.19B Bitcoin from Mt. Gox has just initiated test transactions.
This wallet bc1q26 is likely Bitgo, the 5th and final exchange working with Mt. Gox Trustee to distribute funds to Mt. Gox creditors.
Are… pic.twitter.com/w0j2aCg2Gc
Data from CryptoQuant indicates that approximately 67.7% of the distribution process is complete, leaving many creditors still waiting for their share.
The Mt. Gox wallet’s sudden activity could signal the start of final payouts or further tests before a larger transfer occurs.
Despite anticipation surrounding a potential sell-off
Read more on cryptonews.com
