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<p>A wallet associated with Mt. Gox, holding approximately $1.95 billion worth of Bitcoin, has initiated test transactions, sparking speculation about the imminent distribution of funds to creditors.</p> 
<p>The wallet in question, <a href="https://x.com/ArkhamIntel/status/1823329015450525765" rel="nofollow" target="_blank">identified</a> by the address bc1q26, is believed to be managed by Bitgo, the fifth and final exchange working with the Mt. Gox Trustee to facilitate the repayment process.</p> 
<p><img decoding="async" src="https://pbs.twimg.com/media/GU2_loKXYAA9aY8?format=jpg&amp;name=small" alt="Image" title="Mt. Gox BTC Wallet Worth $1.95 Billion Shows Activity Amid Final Distribution Phase 53"></p> 
<h3 id="background-on-mt-gox">Background on Mt. Gox</h3> 
<p>Mt. Gox, once the world’s largest <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> exchange, collapsed in 2014 after a catastrophic hack resulted in the loss of hundreds of thousands of Bitcoins. The ensuing bankruptcy and legal proceedings have stretched over a decade, with creditors awaiting restitution for their lost funds.</p> 
<h3 id="key-timeline-of-events">Key Timeline of Events:</h3> 
<ul> 
 <li><strong>2014</strong>: Mt. Gox files for bankruptcy following a massive hack.</li> 
 <li><strong>Years of Legal Proceedings</strong>: Legal battles ensue to determine how the remaining assets should be distributed among creditors.</li> 
 <li><strong>2023</strong>: Creditors are offered a choice between an early lump-sum payment in Bitcoin or waiting for a potentially larger payout after the completion of legal proceedings.</li> 
 <li><strong>Early 2024</strong>: Preparations begin for the distribution of Bitcoin and Bitcoin Cash to creditors opting for the early payout.</li> 
 <li><strong>July 2024</strong>: The distribution process commences, with exchanges like Kraken and Bitstamp starting to disburse funds.</li> 
 <li><strong>August 2024</strong>: Recent activity in a Mt. Gox-related wallet suggests the final phase of distribution may be near completion, with Bitgo potentially involved in the last stages.</li> 
</ul> 
<h3 id="current-status-of-the-distribution">Current Status of the Distribution</h3> 
<p>As of now, the distribution process is actively ongoing, with a significant portion of the recovered funds already disbursed to creditors. The recent transactions from the Mt. Gox-linked wallet have raised expectations that the final stage of the distribution process is imminent.</p> 
<h3 id="key-numbers">Key Numbers:</h3> 
<ul> 
 <li><strong>$1.95 billion</strong>: The estimated value of Bitcoin in the wallet linked to Bitgo, the final exchange in the distribution chain.</li> 
 <li><strong>5</strong>: The number of exchanges involved in distributing the recovered Mt. Gox funds, including Kraken, Bitstamp, Bitfinex, Coinfloor, and Bitgo.</li> 
 <li><strong>Hundreds of thousands</strong>: The approximate number of creditors impacted by the 2014 Mt. Gox hack.</li> 
</ul> 
<p>The test transactions from the Mt. Gox wallet suggest that creditors might soon receive their long-awaited compensation, marking the near conclusion of one of the most significant sagas in cryptocurrency history.</p>

Mt. Gox BTC Wallet Worth $1.95 Billion Shows Activity Amid Final Distribution Phase

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