This morning, the bankrupt Mt. Gox exchange moved a huge amount of Bitcoin to new wallets, according to Arkham Intelligence. They transferred a total of $2.85 billion worth of Bitcoin.
As part of paying back its creditors, Mt. Gox sent 5,110 BTC, which is worth $340.1 million, to four different Bitstamp addresses.
Arkham said that 1,598 BTC, worth $106 million, went to a Bitstamp cold wallet. The rest was sent to three other Bitstamp addresses: 382.4 BTC ($25.44 million) to 3CgKHX, 2,239 BTC ($149.1 million) to 3QVD5H, and 890.9 BTC ($59.3 million) to 3DgJ7MPGS.
On July 22, CryptoSlate reported that Mt. Gox had done several test transactions with Bitstamp. Bitstamp is one of five exchanges helping Mt. Gox return money to creditors. Other exchanges like Kraken have also received funds, while Bitbank and SBI VC Trade have already started paying out to creditors.
Mt. Gox began repaying people affected by its 2014 hack earlier this month. They plan to pay over $9 billion in Bitcoin and $73 million in Bitcoin Cash to those affected.
Some worried that this big move might cause a lot of market changes, but experts say it’s just unnecessary panic about Bitcoin.
Source - https://cryptoslate.com/mt-gox-continues-moving-bitcoin-sends-340-million-btc-to-bitstamp-arkham/