TechFlow news, on July 4, according to The Block, just hours before the upcoming repayment of $9 billion worth of Bitcoin, three wallets linked to Mt Gox conducted two small Bitcoin transactions, one of which transferred a small amount of funds to Bitbank's hot wallet. According to Arkham Intelligence data, these transactions involved a total of $24 worth of Bitcoin.
After Mt Gox's bankruptcy, its funds were primarily consolidated into three wallets, now preparing to repay $9 billion in Bitcoin liabilities. Bitbank is one of five designated exchanges for creditor repayments, along with Kraken, Bitstamp, SBI VC Trade, and BitGo. These exchanges will open services to clients within 90 days after receiving funds.
As these minor transactions did not originate from the main wallets, it remains unclear whether they were test runs for larger transfers. The Mt Gox trustee previously stated repayments would begin in early July, though an exact date has not been disclosed. Affected by this, Bitcoin’s price has dropped over $10,000 in the past month, currently trading around $57,600.
