A Bitcoin (BTC) wallet associated with the Mt. Gox exchange repayments has initiated test transactions. This wallet was identified as Bitgo, the fifth and final exchange working with the defunct platform’s Trustee to initiate BTC and BCH payouts. Hence, it signals the start of repayments to creditors.

Bitgo Initiates Test Transactions For Mt. Gox Creditor Payout

According to Arkham Intelligence, the wallet, identified as bc1q26, received 33,105 BTC from the defunct exchange two weeks ago. The BTC stash was worth approximately $2.19 billion at the time, now valued at $1.95 billion. The wallet is believed to be under the control of Bitgo. On Tuesday, August 13, the wallet executed a test transaction.

It shifted a small fraction of Bitcoin valued at $5.88. This move indicates that the long-awaited repayment process may soon begin. Moreover, it offers some relief to the several creditors affected by the collapse of Mt. Gox in 2014, who are awaiting repayments via Bitgo. The Bitgo-linked wallet currently holds 33,105 BTC.

The post Just-In: Bitgo Kickstarts Mt Gox Bitcoin Repayments With Test Transactions appeared first on CoinGape.

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Filed under: News - @ August 13, 2024 1:25 pm