Mt. Gox Makes New Transfers After Bitcoin Plunges to $92K

The #Bitcoin price recently slipped to as low as $92,980

The now-defunct Mt. Gox exchange recently transferred $352.69 million to two new wallets, according to data provided by Lookonchain.

Notably, the transfer came after the Bitcoin price flash-crashed to as low as $92,980 earlier today after hitting a new all-time high of $103,608.

According to CoinGlass data, a whopping $892.78 million worth of crypto got liquidated over the past 24 hours, with long potions accounting for the vast majority of them sum ($718.71 million).

The cryptocurrency is currently trading at $97,889 after paring some losses.

It is worth mentioning that Mt. Gox also sent 24,052 $BTC($2.43 billion) to a new wallet right after Bitcoin broke through the $100,000 mark for the first time on Thursday.

Mt. Gox also made substantial Bitcoin transactions last month. However, this did not prevent the cryptocurrency from rallying significantly higher in November.

The infamous Bitcoin trading platform, which went bankrupt back in 2014 after losing 850,000 BTC, began the process of redistribution back in June.

In October, its repayment deadline was postponed to late 2025.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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Mt. Gox Makes New Transfers After Bitcoin Plunges to $92K

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