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A crypto wallet holding $2 billion in Bitcoin from the Mt. Gox BTC distribution has reportedly sent a test transaction. Users on Reddit are making unverified claims about receiving BTC and BCH balances on BitGo, with Arkham Intelligence analysts suggesting that BitGo is behind the wallet. Arkham analysts believe that this transaction is in preparation for distributing funds to Mt. Gox creditors. It is yet unclear if the now-defunct exchange is actually preparing to repay its clients or if it is reshuffling its Bitcoin holdings. Clients who lost their holdings have waited for nearly ten years for a reimbursement. Mt. Gox was a prominent Bitcoin exchange founded in 2010 and based in Japan. The exchange collapsed in 2014 following a hack. It processed more than 70% of all Bitcoin transactions at its peak. Mt. Gox lost 850,000 BTC in its security breach, making it one of the biggest hacks ever, and causing the exchange to close its doors. Also Read: Bitcoin: Mt. Gox Moves $2.8 Billion Wort...

Creditors of long-failed cryptocurrency exchange Mt. Gox have finally started receiving payments for their Bitcoin (BTC), which has been locked up on the exchange since February 2014. On Dec. 25, on the mtgoxinsolvency Reddit page, users speculated that Mt.Gox was sending refunds in Japanese yen through PayPal – almost ten years after the funds were blocked on the exchange on Feb. 24, 2014. In particular, one of the Reddit users, Free-end254, stated that he received payments and attached a screenshot with confirmation from PayPal. Another user also confirmed receipt of funds, noting that he initially mistook the message for phishing. Source: Reddit In late November, Mt. Gox creditors received an email from the bankruptcy trustee, who announced their intention to initiate payments. However, due to the different types of payments and other processing times, payments will continue into 2024. As part of this process, Mt. Gox will distribute various assets among creditors ....