Mt. Gox reactivates Bitcoin wallet, makes small transfer to Bitstamp

Mt. Gox currently holds $6.09 billion worth of Bitcoin.

Key Takeaways

Mt. Gox conducted small Bitcoin transactions amid ongoing repayment process. Bitstamp is identified as one of the exchanges handling Mt. Gox's creditor repayments. <?xml encoding="UTF-8"?>

Mt. Gox, the once-prominent crypto exchange, initiated minor Bitcoin transactions today, signaling preparations for substantial customer repayments. According to data from Arkham Intelligence, a wallet associated with Mt. Gox transferred 0.021 Bitcoin to Bitstamp, a designated exchange for creditor repayments.

Source: Arkham Intelligence

Mt. Gox’s trustee started the repayment process earlier this month. Crypto exchanges like Kraken, Bitstamp, and Bitbank are set to distribute the funds to their clients within 90 days of receipt.

Kraken said last week that it had received Bitcoin from Mt. Gox and that funds would be sent within 7 to 14 days to customers.

At the time of reporting, Mt. Gox’s wallet still holds $6.09 billion worth of Bitcoin.

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