Above $140 Million in Bitcoin transferred from Mt Gox Wallets
16,000 Bitcoin which amounted to around $141 million which is associated with the current defunct Bitcoin exchange Mt Gox were transferred on Thursday.
In accordance to CryptoGround, which is involved in the monitoring of Mt Gox remaining wallets, the Bitcoins were gotten rid of the four separate addresses in the increment of about 2,000 which have 0 BTC remaining in each of the wallets which funds were extracted from.
The wallets are said to have been under the control of the exchange bankruptcy trustee, Nobuaki Kobayashi who is a lawyer based in Tokyo. The lawyer also announced in March that he sold a total of $400 million of Mt Gox bitcoin and also Bitcoin cash in 2017 December. Currently, the Gox addresses have approximately 146,106 BTC according to the data.
Therefore, additional network data shows that the trustee holdings in Bitcoin cash are still proceeding with about 16,000 bitcoin cash sent over about four transactions.
Kobayashi has the task of liquidation of tokens on behalf of the Mt Gox creditors. Most of the creditors have not yet recovered their money since the exchange was closed and ceased operation in 2014. However, the process has not been without controversy, given that bitcoin value which was held by Mt Gox exceeds the amount of the claimed by the exchange creditors.
The exchange was founded in 2010 which boasted of 80% of the global trading volume at the height. Since the closure of Mr. Gox, the exchange and the founder, Mark Karpeles, have been involved in intense legal battles. This includes the class action lawsuits and also the embezzlement charges.
As it was previously reported, the previously sell-offs from the wallets have coincided with the steep declines currently in the entire cryptocurrency market. Therefore, the fund transfer on 5th February was concurrent with a 50% decline in the market value. This was from January all-time $830 billion market capitalization.