Mt. Gox Moves Another $2 Billion to New Address as It Embarks on Repayment Plan

Data from Arkham Intelligence shows that 33,105 BTC ($2.19 billion) was sent to an address beginning with “bc1q26” - an unknown address.

Bankrupt crypto exchange Mt. Gox has shifted another $2 billion to a new address as it begins its highly anticipated repayment plan.

According to data from Arkham Intelligence, 33,105 BTC ($2.19 billion) was sent to an address beginning with “bc1q26” - an unknown address.

The move comes days after the defunct crypto exchange began transferring billions of dollars as part of its repayment plan.

Last week, crypto exchange Kraken confirmed that it distributed Bitcoin and Bitcoin Cash back into users' accounts from the Mt Gox estate but did not comment on the specific amount.

According to a Reddit thread, some Kraken users received their Bitcoin and Bitcoin Cash from Mt. Gox last Tuesday.

"Omg it’s real! Guys we made it!" Wrote one commenter. "Just received mine too. An end of an era guys! A day I never thought would come," said another.

The latest transaction came after Mt. Gox had transferred billions of dollars worth of bitcoin to designated crypto exchanges, including Bitbank, Kraken, Bitstamp and SBI VC Trade, over the past few weeks. Bitstamp, for example, said last week that it would begin distributing the assets to Mt. Gox creditors starting July 25.

Trustee Nobuaki Kobayashi said in a July 24 statement that Mt. Gox has made repayments in bitcoin and bitcoin cash to certain creditors through designated crypto exchanges on July 5, 16 and 24. The trustee added that it has made repayments to over 17,000 creditors as of July 24.

Mt. Gox also transferred $335 million in Bitcoin to Bitstamp wallets last week. According to Arkham Intelligence data, 5,106 Bitcoins were sent at 6:16 am UTC on Wednesday. Another 2,237 BTC and 2,869 BTC were also sent to unknown addresses.

The wallet starting with "1MzhW" shifted funds to another wallet beginning with "12azL" and a final move to Bitstamp wallets.

Bitstamp said it is starting to return Bitcoin, Bitcoin Cash, and Ether tokens.

Mt.Gox derived its name from "Magic: The Gathering Online EXchange" as it began as a trading platform for the collectible card game, and was responsible for over 70% of Bitcoin transactions in 2014.

That year, the platform was hit by a hack that saw it lose 850,000 BTC. At the time, its value was $450 million; it's now valued at over $54 billion.

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