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🪙 Mt. Gox Moves $2.8B in BTC Amid Bitcoin's Surge Past $100K

Mt. Gox moved a large amount of Bitcoin (BTC), worth around $2.8 billion, to an unknown address early on Thursday. This comes just three weeks after the exchange transferred 2,500 BTC to another unknown address. The exchange still holds over $4 billion worth of BTC.

These on-chain movements are likely related to creditor reimbursements, which were a significant source of bearish pressure on the cryptocurrency market this summer. The Mt. Gox trustee has postponed the deadline for creditor repayments by one year to October 31, 2025.

Despite these developments, Bitcoin's price has remained steady, trading above $103,000 at the time of writing. The movement of these large sums of BTC from the defunct Mt. Gox exchange has raised concerns and grabbed attention on cryptocurrency social media.