Onchain data shows that $35 million worth of BTC was sent to unknown addresses. However, this transfer to Mt. It is not yet clear whether this is part of the repayments required to be made to Gox’s creditors.

According to the data provided by the blockchain intelligence platform Arkham, it was reported that this movement of 500 Bitcoin took place in two separate transactions: 31.78 BTC and 468.24 BTC. This has been about a month since Mt. It stands out as the first major coin transfer from Gox-related wallets.

According to Arkham’s data, Mt. Gox-related addresses still hold 44,905 BTC, or approximately $3.1 billion worth of assets. Some of these assets were previously moved in August.

On August 20, 12,000 BTC, worth approximately $700 million at the time, was transferred to an unknown address. This process began in late July at Mt. Gox creditors’ funds began to be distributed.

Mt. Gox bankruptcy has created uncertainty that the exchange’s potential to liquidate assets will negatively impact spot markets.

Mt. Gox was one of the world’s largest crypto exchanges, handling approximately 70% of global Bitcoin transactions, until it suffered a massive bankruptcy in 2014. However, the platform stopped its activities due to hacking attacks and security vulnerabilities, causing losses of millions of dollars.

Currently, there are difficulties in the process of repayments to creditors. In early October Mt. Gox officials announced that they postponed the deadline for payments to creditors for another year and set the new deadline as October 31, 2025.

In the official statement, it was stated that the payments have not yet been made because many rehabilitation creditors have not completed their repayment transactions and some creditors have been made double payments. Following this situation, people who received overpayments were asked to return the excess funds.

On the other hand, Mt. These movements of Gox may have caused fluctuations in the market price of Bitcoin. The asset briefly fell below $69,000 on the morning of November 1, down 5.5% from the $73,300 level reached on October 30.

But experts say this decline is the last Mt. Gox thinks that it is not directly related to Bitcoin movements because the market decline started on October 31. Mt. It is known that the launch or relocation of large assets such as Gox creates anxiety among investors; Because a large Bitcoin sell-off could lead to a widespread price drop in crypto markets.

Mt. In addition to the uncertainties in Gox’s payment process to creditors, the movements of BTC assets are among the important developments to follow in the market. Mt. How quickly or slowly Gox assets are distributed during the redemption process may have an impact on the medium- and long-term price movements of the crypto markets.