Mt. Gox Postpones Repayment Deadline to 2025, Allaying Concerns of Bitcoin Sell Pressure
According to Arkham data, crypto wallets linked to Mt. Gox still contain a staggering $2.7 billion worth of bitcoin. This is despite the fact that earlier this year, the wallets distributed nearly $6 billion worth of assets to creditors.
The Mt. Gox exchange, once one of the largest in the world, infamously filed for bankruptcy in 2014 after losing hundreds of thousands of bitcoins in a devastating hack. Since then, the exchange has been undergoing a lengthy rehabilitation process to repay creditors.
While significant progress has been made in distributing assets to creditors, the fact that $2.7 billion in bitcoin still remains in the wallets linked to Mt. Gox is sure to raise eyebrows in the crypto community.
It is unclear what the future holds for these remaining funds, but one thing is certain: the Mt. Gox saga continues to captivate the cryptocurrency world.
