Mt. Gox hasn’t sold any of its 140,000 bitcoin but it’s planning to

Bankrupt crypto exchange Mt. Gox transferred over 140,000 bitcoin, worth roughly $9 billion, this morning as it prepares for creditor repayment in a ‘secure manner.’

In total, 16 bitcoin transactions were sent from Mt. Gox wallets and correlated with a bitcoin price dip of almost 2%. This morning alone, multiple bitcoin transactions ranging from $1.4 million to $2.2 billion were sent to this address: 1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6. It first received nearly $4 worth of bitcoin on May 20. 

The address receiving the Bitcoin has since sent almost 4,022 Bitcoin, worth over $273 million, to further wallets. 

Mt. Gox said it is preparing to repay a portion of cryptocurrency rehabilitation claims either through the sale or direct transfer of crypto, whichever the creditor chooses.

However, after a series of inquiries and deep concern about its Bitcoin management, the exchange clarified that “the Rehabilitation Trustee has neither made repayment… nor sold Bitcoin and Bitcoin cash to make repayment.”

“The Rehabilitation Trustee is currently managing Bitcoin and Bitcoin cash in a secure manner,” it added in an official statement.

The former Mt. Gox CEO sharing his thoughts on the bitcoin transfers.

Mt. Gox was one of the first Crypto exchanges to be established but collapsed in February 2014. Roughly 240,000 creditors were affected and 850,000 Bitcoin lost.

An account claiming to monitor outgoings ‘on all known addresses held by the Mt. Gox trustee’ reported that roughly 0.11645937 BTC worth $7,925 is left in wallets held by Mt. Gox.

Mt. Gox repays some creditors, emails others to confirm accounts

Read more: Who owns MtGox claims to billions of dollars in Bitcoin?

Users online have speculated that the latest transactions could be the first step in the crypto exchange repaying creditors. That said, some creditors were reportedly paid back 80% of their claim earlier this year after Mt. Gox began reaching out to confirm creditor account details. Some creditor repayments reportedly began last December.  

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