Bitcoin dips 2% as Mt. Gox wallets move more than $7B to unknown wallet:mt.gox: mt gox news:what is mt gox?

Billions in Bitcoin belonging to collapsed crypto exchange Mt. Gox has moved to unfamous wallet.

Bitcoin BTC $67, 842 dipped 2% on May 28 after wallets labeled as belonging to collapsed crypto exchange Mt.Gox moved 107,547 BTC almost $7.3 billion to unknown wallet with over transactions coming in by hour.

Blockchain tracking X account Whale Alert posted the moves in May 28 X posts, noting six on chain transaction of between 3,999 BTC and 32,499 BTC within hours.

The move is ahead of defunct crypto exchange plan to return BTC holding to creditor before October.

More than $9.4 billion Bitcoin is owed to some of Mt.Gox’s 127,000 creditors who have waited to get it back for more than 10 years after exchange collapsed in 2014 after various unnoticed hacks

Mt Gox final repayment deadline is Oct 31.Its trustee started contacting creditors in January to confirm their identity and exchange accounts for repayment.

Blockchain explorer Arkham Intelligence shows the transaction hashes from 1:41 am to 4:45 am UTC include transfer from Mt. Gox cold wallets with moving 2000 BTC at a time.

All transactions pointed to single unlabeled address that holds 107, 547 BTC nearly $7.29 billion.

Mt.Gox trustee firm Nagashima Ohno and Tsunematu did not reply to inquiry on where and why the Bitcoin was moved.

Bitcoin dropped almost 2% in wake of moving Mt.Gox BTC trading at $67,875 compared to $69,374 at time of transfer.