Mt. Gox, the now-defunct cryptocurrency exchange is moving forward with its plan to repay its creditors by transferring Bitcoin to various exchanges.
Arkham Intelligence shared that the exchange transferred 0.021 BTC to a new wallet, possibly as a test transfer.
With Bitcoin trading around $67,200 in the time fo writing, this transfer is valued at about $1,400.
I like to move it
Arkham Intelligence identified one of the recipient addresses as belonging to the crypto exchange Bitstamp.
In late June, Mt. Gox announced it would start repayments in July. Nobuaki Kobayashi, the Rehabilitation Trustee, stated that the repayment process involves collaboration with specific cryptocurrency exchanges like Bitstamp and Kraken. And now they sent sats to Bitstamp.
Call to arms
Kobayashi told that the exchange and verification of necessary information for the repayment must be completed before proceeding.
Bitstamp announced for creditors that it would promptly distribute the received assets.
Kraken also confirmed it had received assets from Mt. Gox, notifying creditors via official email.
Japanese exchanges Bitbank and SBI VC Trade have also received Bitcoin for distribution.
Such a long time ago
Once a transfer is confirmed, the receiving exchange is expected to distribute the assets within 7-14 days.
Given the decade.long waiting, this sounds way more friendly time-horizon. Bitbank and SBI VC Trade have reportedly already distributed their allocated Bitcoin, but there is no official announcement about this.
More distributions are anticipated before the end of July, within the designated timeframe for allocated Bitcoin.
Have you read it yet? Bitcoin price can go way higher than we think
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