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HomeCrypto NewsMarketMt Gox Bitcoins Remain Unmoved; Speculated Whale Addresses Do Not Belong To The Exchange 

Mt Gox Bitcoins Remain Unmoved; Speculated Whale Addresses Do Not Belong To The Exchange 


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Mt. Gox has not moved any of its coins, as recently surfaced whale addresses do not belong to the now defunct exchange.

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Mt. Gox, the now-defunct Bitcoin exchange, plans to disburse BTC settlements to affected clients. In light of this, speculations and rumors of the actual disbursement date abound. These have contributed to a massive FUD spread in an already bearish atmosphere. Notwithstanding, recent speculations of the disbursement already going live have been discredited.

The community has discovered two addresses with many recently transferred BTC tokens. Speculations of these addresses belonging to Mt. Gox have surfaced. If this is true, it could be a solid indicator that the BTC disbursement is live. However, prominent crypto blogger and Mt. Gox creditor Eric Wall has taken to Twitter to dispel this belief.

“These are not MtGox addresses,” Wall said,

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  • 14RKFqH45xYPMpW4KQ28RB6XtrZ8XpEM5i

“There are no MtGox coins on the move. The repayment system is not live.” 

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Data from the Blockchain explorer shows some interesting details. The first address appears to have sent out 5,001 BTC worth over $100M against prevailing rates on August 28. This transaction emptied the address with a balance of 0.00000555 BTC ($0.11) as of press time.

Additionally, the second address sent out a whopping 5,000 BTC worth $99.8M against current rates on August 29. Just as noticed in the previous address, the recent transaction left the address with a balance of 0.00000555 BTC ($0.11). 

The sheer amount of these successive transactions prompted the belief that these are Mt. Gox addresses and that the repayment is live. It appears this is as false as the rumors of the planned August 28 disbursement. 

A few days before August 28, several crypto blogs and notable personalities actively spread the rumor that Mt. Gox would be disbursing its BTC repayments on August 28, totaling 137,000 BTC. The rumor pumped a lot of FUD into the space, as investors dread a systematic BTC dump that could further aggravate the markets. 

The day before the rumored date, Eric Wall, who identified himself as an Mt. Gox creditor, debunked the claims. Wall noted that Mt. Gox does not plan to distribute the coins this week, next week, or the week after. “As it currently stands, you can’t even register where (which exchange) you want your BTC and BCH sent yet,” he added.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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