Mt.Gox Wallet Transferred 6800 BTC With Plans To Redistribute $6B

MT.Gox wallet transferred 6800 BTC with plans to redistribute $6 billion to the affected users from the hack a few years ago as we can see more today in our latest Bitcoin news.

Former CEO Mark Karpeles disclosed that MT.GOX wallet transferred coins and the exchange had about 200,000 BTC in possession during the company’s closure and the trustee sold 50,000 BTC for $600 million in the past. The cold wallet belonged to the infamous BTC exchange MT.GOX wallet transferred 6,800 BTC to an unknown wallet a few days after the former CEO revealed more plans to redistribute BTC worth $6 billion to the creditors.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 6,800 #BTC (318,980,017 USD) transferred from #MtGox Cold Wallet to unknown wallethttps://t.co/sYczH1c8ho

— Whale Alert (@whale_alert) April 1, 2022

Mt.Gox was a Tokyo-based BTC exchange whcih shut down in 2014 after a hack that compromised 850,000 BTC and in a recent interview, Karpeles disclosed that the exchange had about 200,000 BTC in possession during the company’s closure where a trustee sold 50,000 BTC for $600 million in the past. According to Karpeles, the remaining 150,000 BTC now held by the exchange grew in value over the years and are worth $6 billion. After the revelation, the former CEO confirmed the plans to redistribute the money and settle the score with the creditors.

After his interview, crypto Twitter’s @whale-alert outlined that 6800 BTC worth nearly $319 million got transferred to an unknown wallet from the cold wallet that belonged to the defunct exchange. Despite being non-operational for over 8 years, the team of the exchange shared a rehabilitation plan to compensate the creditors but the 6800 BTC transfer only shows a small part of the plan. while the crypto businesses continue to adopt security measures to fight the attacks, bad actors kept up with the change to lure in new investors.

🚨 Warning 🚨@BearsRare
Discord has unfortunately been compromised. Please DO NOT click any links, connect your wallet and block all incoming DMs in our discord. Our team are working on the situation as we speak 🙏🏼

— Rare Bears (@BearsRare) March 17, 2022

The recently launched NFT project Rare Bears confirmed the successful phishing attack which resulted in a loss of $800,000 in NFTs. The hacker was able to compromise the moderator’s account on Discord and posted some other links that drained the user wallets. The Rare Bears team was able to remove the account and secure the server from other potential attacks.

As recently reported, The most recent reports suggested that the investors can receive the billions worth of BTC the year. In the meantime, the MT Gox ex-CEO Mark Karpeles decided to enter into another initiative focused on the crypto industry.