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Topic: [2024-07-16] Mt Gox Estate Transfers $3B in Bitcoin, $53M in Bitcoin Cash ... (Read 76 times)

Kakmakr
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[2024-07-16] Mt Gox Estate Transfers $3B in Bitcoin, $53M in Bitcoin Cash ...
July 19, 2024, 06:51:06 AM
#2
I presume the Bitcoin Cash were derived from the forked coins and that those recovered addresses were created prior to the fork... right? I hope these people did not request that the coins owed to them, should be paid out in Bitcoin Cash and not in Bitcoin (BTC)?

In anyway, I think a lot of people who were victims of Mt Gox, turned against all forms of Crypto currencies, after this happened to them. Most of those coins will be "cashed" out to Fiat, once it hits their wallets and this will have a massive negative impact on the Bitcoin price.  Sad Sad Sad

Mt Gox still have a ripple affect on the Bitcoin community, long after this happened. It gave Bitcoin haters the ammunition to attack Bitcoin supporters and it turned Bitcoin supporters into Bitcoin haters.  Angry

 
chmod755
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Re: [2024-07-16] Mt Gox Estate Transfers $3B in Bitcoin, $53M in Bitcoin Cash ...
July 16, 2024, 06:29:16 AM
#1
Mt Gox Estate Transfers $3B in Bitcoin, $53M in Bitcoin Cash Ahead of Distribution

According to onchain data, at 4:12 a.m. EDT on Tuesday, 48,641 bitcoin worth just over $3 billion were transferred by the Mt Gox estate ahead of the forthcoming distribution.

Mt Gox Estate Moves Large Holdings Before Distribution

After the price of bitcoin (BTC) climbed above $65,000, Mt Gox sent 48,641 BTC, valued at $3 billion, to an unidentified P2SH (Pay to Script Hash) wallet. It was the first movement of funds transferred by the Mt Gox trustee in two weeks.

Following the transaction, confirmed at block height 852,427, bitcoin’s price fell to an intraday low of $62,446 per unit by 4:33 a.m. EDT. The funds remain in the P2SH wallet since the transfer.

Additionally, the Mt Gox trustee relocated over 140,000 bitcoin cash (BCH) into two separate wallets. The BCH address “pq3am” holds 47,176.48 BCH worth $17 million, while the other wallet, “qqqkt,” contains 92,967.76 BCH valued at over $35 million.

Furthermore, after the initial 48K BTC, Mt Gox sent 42,587 BTC ($2.7B) to a new legacy address and 527 BTC worth $33 million to another new legacy address. In total, around $5.8 billion in bitcoin was moved after the first payment.

This recent movement of substantial bitcoin and bitcoin cash assets by the Mt Gox trustee indicates potential market impacts as the long-awaited distribution nears. Observers will continue to watch these wallets closely, anticipating the broader implications for future market behavior.

Source: https://news.bitcoin.com/mt-gox-estate-transfers-3b-in-bitcoin-53m-in-bitcoin-cash-ahead-of-distribution/
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