Analysis: Mt.Gox cold wallet has completed all Bitcoin transfers, or it is a consolidation before being transferred to the creditor custodian

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PANews2024/05/28 09:31

By:PANews

PANews news on May 28, according to Cryptoslate, CryptoQuant researcher Axler Adler Jr said on the .

Alex Thorn, director of research at Galaxy Digital, believes that most Bitcoin will be held rather than sold immediately. Thorn said: “I personally expect that most Bitcoin will be held, but I can’t say the same for BCH (Bitcoin Cash).” Thorn believes that this is a consolidation before being transferred to a custodian: “All funds are transferred To the 1Jbez…APs6 address. This may be a consolidation before moving to creditor custodians (BitGo, Kraken, Bitstamp).”

The trustee overseeing the Bitcoin repayment process for the collapsed exchange has extended the repayment deadline to October 2024. The move is crucial for creditors who have been waiting for compensation for nearly a decade. News of a large number of Bitcoin transfers had an impact on the market, and the price of Bitcoin fell to about $67,485 today.

According to previous news, the MtGox wallet address has repeatedly transferred billions of dollars in Bitcoin to a new address starting with 1JbezD.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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