Mt. Gox: Financial Transactions and Consequences of the Cyberattack

🔴 According to Arkham Intelligence, the Mt. Gox exchange transferred 12,240 BTC to a new wallet, amounting to approximately $840 million. Following this transfer, the price of Bitcoin slightly dropped. A significant balance still remains in the wallet — around $9.7 billion.

🔴 Founded in 2010, Mt. Gox once handled 70% of all Bitcoin transactions worldwide. In 2014, the exchange was hit by a devastating cyberattack, during which a large portion of Bitcoin was lost. Later, 200,000 BTC were recovered, but legal issues delayed the process of compensating the affected parties.

🔴 In 2021, Japanese courts finally approved the compensation plan. Mt. Gox’s assets include 142,000 BTC and 69 billion Japanese yen. The creditor repayment process is expected to begin before October 31.