Possible BitGo Wallet Moves $2 Billion in Mt. Gox Bitcoin: Arkham Data

A wallet believed to belong to BitGo, which previously received more than $2 billion in bitcoin linked to the Mt. Gox collapse, has moved the majority of those funds to another wallet, according to data from Arkham Intelligence. On Tuesday, Arkham identified what appeared to be a test transaction from the wallet, sparking speculation that the long-awaited distribution of funds to Mt. Gox creditors may be entering its final phase. The wallet, labeled bc1q26, transferred nearly $2 billion worth of bitcoin just hours after the initial test transaction.

The movement of such a significant amount of bitcoin suggests that the repayment process for Mt. Gox creditors could be close to completion. Over the past month, Mt. Gox has been transferring billions in bitcoin to various crypto exchanges, including Bitbank, Kraken, Bitstamp, and SBI VC Trade. These exchanges are responsible for distributing the funds to the thousands of creditors who have been waiting for years to reclaim their lost bitcoin.

Mt. Gox, which was once the largest bitcoin exchange in the world, suffered a major security breach in 2014, resulting in the loss of at least 850,000 BTC. The repayment process has been ongoing for several weeks, and the recent wallet activity indicates that creditors may soon see the resolution they have been awaiting for nearly a decade.

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