Mt. Gox shifts $9B in BTC, market braces for impact

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Mt. Gox moves $3 billion in Bitcoin to an unknown wallet, mobilizing funds for the first time in two weeks, according to Arkham Intelligence.

Mt. Gox’s cold wallet transfers over 140,000 BTC in a significant move after two weeks of inactivity, causing market concerns.

In three hours on July 16, Mt. Gox has moved over 140,000 Bitcoin, worth almost $9 billion, to a known cold wallet and two unknown addresses.) in its main wallet, worth around $8.7 billion and has begun mobilizing funds held for the first time in two weeks. The unknown address, ending in “BHDct9b,” received 42,587 BTC worth $2.69 billion, while the remaining 4641.24 BTC worth $293.94 million was

The price drop is equivalent to over 3% for BTC, but the ripple effect led to over 5% price dips for altcoins like Uniswap price hitting $65,000 and falling as low as $62,400 over the last 24 hours. Source:The announcement cited the Rehabilitation Debtor as Mt. Gox Co. Ltd. and the Rehabilitation Trustee as Nobuaki Kobayashi, attorney-at-law.

 

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