Collapsed cryptocurrency exchange Mt Gox moved over 47,000 BTC -5.16% to another wallet late evening on Thursday, according to Arkham Intelligence. This comes ahead of its impending $9 billion worth of bitcoin repayment to creditors.

One of Mt Gox’s three wallets that held significant portions of funds sent around 47,228.7 BTC (about $2.71 billion) to a wallet address that ends with “6onk.” Early on Thursday morning, a number of Mt Gox wallets were involved in two small transactions across a few hours, the largest being $24 worth of bitcoin.

In late June, the defunct bitcoin exchange announced that it would begin distributing over $9 billion worth of funds in bitcoin, bitcoin cash and fiat currency to its creditors in early July.

“This significant payout, amounting to US$9 billion, is expected to add substantial selling pressure as the market absorbs the additional supply,” BTC Markets’ Crypto Analyst Rachael Lucas told The Block on Thursday.

Bitcoin’s value has fluctuated since Mt Gox announced that it would start repaying creditors from July. The cryptocurrency is trading around $56,994, down 5.54% in the past 24 hours and down 18.7% in the last 30 days, according to The Block’s bitcoin price page.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。