Mentougou Mt.Gox fund transfer analysis: which addresses still require close attention?
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Mentougou Mt.Gox fund transfer analysis: which addresses still require close attention?
Starting last week, the long-anticipated Mt. Gox exchange compensation process has begun, with some funds from its wallet addresses transferred to the exchange and set to be distributed to users within one to two months.
Navigating Web3 tides with focused insightsBy Auguste
Last week, the long-anticipated Mt.Gox exchange compensation process began, with部分 funds from its wallet addresses transferred into exchanges and expected to be distributed to users within the next one to two months.
TechFlow conducted a tracking analysis of the fund flows from Mt.Gox's transfers. The analysis revealed that funds from the Mt.Gox wallet primarily flowed into six addresses, among which the subsequent movements of four addresses warrant particular attention from investors.
The core address in our analysis is 1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6, an early aggregation address for Mt.Gox exchange funds. On May 28 this year, 141,619 BTC were aggregated into this address through eight transactions.
Figure 1: Mt.Gox Fund Flow Analysis, Source:search.ichainfo.com
All BTC from this address has now been transferred out—for example, the funds received by Kraken exchange on July 16 originated from here. The funds from this address mainly moved in two directions: one being transfers into exchanges supporting Mt.Gox compensation, including known entities such as Kraken, BitBank, and SBI VC Trade; the other direction involved transfers into other addresses controlled by Mt.Gox.
Figure 2: No Bitcoin remains in address 1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6, Source:search.ichainfo.com
Among these destinations, TechFlow identified six primary addresses receiving significant inflows from Mt.Gox funds:
3JQieEzccKjFS34oW8KZSGBDndiH1YyFrE is suspected to be a Kraken exchange address. It received 48,641 BTC on July 16, and the funds have not moved since. This address requires close monitoring, as any outflow may indicate Kraken beginning BTC disbursements to users.
bc1qrv0v2l9ekrx3lnkeusrzvu2hqyha6ex94nxumlhec4mrye8njm7sn7e4v4 is a BitBank hot wallet address, which received a total of 1,544 BTC.
34X3kp5PTrqR9dA9Zf9XwivpE6tnNJdHKB is a SBI VC Trade hot wallet address, which received a total of 1,157 BTC.
18vjnBHWAxU4CPGPqF7Gp9JyqdVBHDct9b is an Mt.Gox cold wallet address currently holding 42,587 BTC. Any movement from this address should be closely watched.
1AsHPP7WcGnDLzxW2bUa2FcbJP3eZVEqpx is an Mt.Gox cold wallet address currently holding 47,228 BTC. Movements from this address also require close attention.
1HRAprcXCzx1YqYv7dcCcDzf3vYVGPv3b2 is an Mt.Gox cold wallet address currently holding 526 BTC. Although the balance is small, any outflow from this address should still be monitored.
Figure 3: Main Destination Addresses of Mt.Gox Funds, Source:search.ichainfo.com
Although market selling pressure caused by Mt.Gox’s BTC compensation remains a concern, investor sentiment continues to remain optimistic judging from recent Bitcoin price trends, as BTC gradually recovers from its previous lows.
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