BitGo Moves $2 Billion From Mt. Gox Bitcoin

On-chain analytics platform Arkham Intelligence sounded the alarm on Tuesday as $2 billion worth of Bitcoin connected to Mt. Gox moved from a blockchain address connected to crypto exchange BitGo.

According to Arkham, a wallet that had received $2.19 billion from the defunct Bitcoin exchange began initiating test transactions early Tuesday. The company said the wallet likely belonged to BitGo, the fifth and final exchange responsible for handling distributions to creditors of Mt. enjoy The official $2 billion transaction occurred on Tuesday at 14:40 UTC, totaling 33,140 BTC. Four other exchanges, including Bitbank, Bitstamp, Kraken and SBI VC Trade, have already started refunding customers of Mt. enjoy In an unusual move, the price of Bitcoin surged above $60,300 shortly after news of the transfer. Fears related to Mt. Gox have inspired panic selling among market participants earlier this year amid fears that refunded customers could create an avalanche of selling pressure upon receiving their money. Arkham data says that Mt. Gox still has 46,164 BTC ($2.79 billion) in its wallets, down from the 141,000 BTC it started with. SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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