Mt Gox Empties Over 140K BTC worth $9.5B: Is a Dump Incoming
The post Mt Gox Empties Over 140K BTC worth $9.5B: Is a Dump Incoming appeared on BitcoinEthereumNews.com.
Mt Gox moves over 140,000 Bitcoin valued at an excess of $9.5 billion to an unknown wallet, igniting widespread concerns about an imminent large-scale dump. Over 140,000 Bitcoin tokens, valued at more than $9.5 billion, were transferred from the defunct exchange Mt Gox to a single unknown wallet. Due to the sheer volume and the mysterious destination of the funds, this series of transactions has caught the attention of cryptocurrency analysts and investors alike. Detailed Breakdown of the Bitcoin Transfers The transfers began approximately six hours ago, with significant amounts of Bitcoin moved in quick succession. The initial transfer recorded was 3,999 BTC, valued at approximately $277.65 million. This was closely followed by another significant transfer of 8,239 BTC, which amounts to roughly $565.71 million. 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 8,239 #BTC (565,708,590 USD) transferred from #MtGox to unknown wallethttps://t.co/Hk4hKqPifB — Whale Alert (@whale_alert) May 28, 2024 As the hours progressed, the transactions increased in both frequency and volume. A noteworthy transaction of 4,057 BTC, valued at nearly $966.33 million, was recorded five hours from the start. This was immediately followed by an even larger transfer of 16,589 BTC, which carried a value of approximately $1.14 billion. 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 34,138 #BTC (2,320,029,136 USD) transferred from #MtGox to unknown wallethttps://t.co/pH9u37vcqS — Whale Alert (@whale_alert) May 28, 2024 The peak of these transactions occurred in the last two hours, with two enormous transfers. The first one involved 32,137 BTC, valued at about $2.18 billion, followed closely by another of 32,499 BTC, worth approximately $2.20 billion. – Advertisement – The final and largest transaction noted was 34,138 BTC, transferring over $2.32 billion to the wallet. CryptoQuant analyst Axel confirmed that all the funds moved to a new wallet, sparking concerns…
Filed under: News - @ May 28, 2024 4:22 pm