Mt. Gox transfers $2.4 billion in Bitcoin after BTC reaches $100K

The long-defunct cryptocurrency exchange Mt. Gox sent over 24,000 Bitcoin to an unknown address after BTC hit $100,000 and surged above. According to Arkham Intelligence data, the transfer involved 27,871 BTC, valued at a little over $2.8 billion. The transfer, which took place on December 5 at 2:45 AM (UTC), was sent to an unknown address with no previous connection to the past Mt. Gox BTC transfers. The address starts with “1N7j,” and the transaction incurred around $3.78 in fees. The defunct exchange had remained dormant since November 12 before the massive move. Since Mt. Gox began its massive BTC transfers this year, many have been speculating about ongoing repayments to its creditors. The exchange suffered a massive hack in 2011, leading to its bankruptcy in 2014, owing victims and creditors over $23 billion. According to Arkham Intelligence data, the Mt. Gox address now has 39,878 BTC, worth a little over $4 billion at the current BTC price. Due to the surge in the top crypto, the valuation is about $217 million higher. Bitcoin surged today to a new all-time high of $104,000 at 3:08 AM (UTC), according to TradingView data. At the time of publication, the coin is trading at $101,821, over $2,000 below its ATH. From Zero to Web3 Pro: Your 90-Day Career Launch Plan