Mt. Gox moves $2.4B in Bitcoin as BTC surged past $100K

Long-collapsed crypto exchange Mt. Gox moved over 24,000 Bitcoin, worth nearly 2.47 billion, to an unknown address on Dec. 5 after the cryptocurrency hit a milestone of $100,000.

Arkham Intelligence data shows the exchange moved 24,051 Bitcoin (BTC) to an unknown address starting with “1N7j” at 2:45 am UTC on Dec. 5 in its first transfer since Nov. 12.

Mt. Gox’s move came just 12 minutes after Bitcoin crossed $100,000 and less than half an hour before Bitcoin hit a high of $104,000 on Coinbase at 3:08 am UTC, per TradingView.

It’s unknown why Mt. Gox — which fell into bankruptcy in early 2014 — has moved part of its holdings, but past similar moves have been the precursor to the defunct exchange giving payouts to its creditors.

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This is a developing story, and further information will be added as it becomes available.