Bitcoin $107,285.9 stock exchange Mt. goxmade a large amount of BTC transfers. Today, the exchange moved 191 thousand 678 BTC worth 20.42 million dollars to a new address about 10 hours ago. Then, 1,428 BTCs were sent to a different address. The total value of this transfer reached 152 million dollars. Mt. It is known that Gox currently still holds 36 thousand 85 BTC. The value of the assets in question is approximately 3.84 billion dollars.
Mt. Gox’s Collapse and the Process of Repaying Creditors
Mt. Gox, once the world’s largest Bitcoin It was the stock exchange. The stock market went bankrupt after a cyber attack in 2014. 850 thousand BTC was lost during this attack. At that time, the exchange handled 70 percent of global Bitcoin trading volume. The incident deeply affected the cryptocurrency market.
Creditors had to wait for years. In July 2024, Mt. Gox has officially started the refund process. Currently held by the stock market BTC‘s are held for distribution to creditors. However, large amounts of transfers make market players nervous. Mt. Bitcoins issued from Gox cause price fluctuations in the market.
Mt. History of Gox: From a Small Platform to a Giant Exchange
Mt. Gox was first founded in 2006. The platform initially operated as a card exchange site. Founder Jed McCalebconverted the site into a Bitcoin exchange in 2010. McCaleb reinstated the platform a year later Mark KarpelesHe sold it to . Then Mt. Gox grew rapidly and cryptocurrency marketHe became the leader of.
However, vulnerabilities in Mt. It brought about the end of Gox. The attack in 2014 completely destroyed the exchange’s reputation. Most of the Bitcoins lost at that time are still missing. However, the remaining BTCs began to return to creditors as a result of long legal processes.
Mt. Gox’s actions are of great importance in the market. Especially large transfers cause investors to closely monitor price movements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
