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New Developments at Mt. Gox: $1.07 Billion in Bitcoin Transferred to New Wallet
In a surprising turn of events, Mt. Gox has announced that it will be transferring a massive $1.07 billion worth of Bitcoin to a new wallet. This move comes as the exchange continues to make progress on reimbursing its creditors.
As previously reported by U.Today, Mt. Gox’s rehabilitation process began in June 2024, with the aim of starting compensation for losses incurred by users in October 2024. However, unforeseen circumstances led to a delay in the repayment process, which was ultimately postponed until March 2025.
Despite these setbacks, Mt. Gox has continued its efforts to provide refunds to its customers. In an unexpected move, the exchange has now transferred such a massive amount of Bitcoin to a new wallet. While it’s unclear what this means for the future of the rehabilitation process or potential payouts, one thing is certain: Mt. Gox continues to take steps forward in addressing its debt obligations.
In related news, Bitcoin prices have been on the rise over the past 24 hours. Despite facing some volatility, the flagship cryptocurrency has managed to increase by more than 12%, reaching a new high of $92,750 before pulling back slightly.
Source: https://u.today/107-billion-in-bitcoin-transferred-by-mtgox-to-new-wallet-heres-nuance
