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Kraken Confirms Mt. Gox BTC, BCH Receipt, Repayments Within Weeks | Cryptocurrencypanther

Home Bitcoin Kraken Confirms Mt. Gox BTC, BCH Receipt, Repayments Within Weeks

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Kraken Confirms Mt. Gox BTC, BCH Receipt, Repayments Within Weeks

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July 16, 2024

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Crypto exchange Kraken on Tuesday sent email to Mt. Gox creditors confirming that they have received funds from the beleaguered exchange trustee. Moreover, the estimated payments of Bitcoin (BTC) and Bitcoin Cash (BCH) will be completed in 7-14 days.

Mt. Gox Creditors to Receive BTC and BCH From Kraken

Several Mt. Gox creditors reported receiving emails from Kraken crypto exchange, stating it successfully received Bitcoin and Bitcoin Cash from Mt. Gox trustee. The exchange expects to transfer funds to creditors within 7-14 days. It means funds will be deposited into the user’s account by July end.

As CoinGape reported, Mt. Gox-linked wallet moved more than $6 billion in Bitcoin in two transfers to unknown wallets. It caused a sharp drop in BTC price, with crypto liquidations exceeding $210 million. As per on-chain data platform Arkham, Mt. Gox cold wallet transferred 48,641 BTC, valued at $3.07 billion, to a new address beginning with 3JQie…YyFrE, followed with another transfer.

In total, over the past few hours, Mt. Gox has moved 95,869.97 BTC to two separate addresses, amounting to a combined value of $6.06 billion.

Kraken email — Source: Kraken email

Also Read: Ripple XRP Case Update – Ex-SEC Weighs In On Settlement, XRP Nears Bullish Cross