Notably, Kraken has acknowledged the received Bitcoin from Mt. Gox and has promised to commence repayment within 7 to 14 days. In an update, Kraken said creditors will only receive amounts determined by the trustees of Mt. Gox and will distribute according to their instructions.
Meanwhile, our previous article published this morning shows Mt. Gox moving $2.4 billion worth of BTC to an undisclosed wallet address. Given the anticipated reimbursement process, this movement signaled fund distribution to victims of the hack.
However, Arkham highlighted in its recent update that $2.74 billion worth of BTC was transferred today, is still being held by Mt. Gox. The defunct exchange filed for bankruptcy in 2014 after suffering a notorious hack that led to the loss of about 850,000 BTC. Therefore, Kraken’s receipt of funds provides relief to Mt. Gox creditors who have been patiently waiting for recovery for almost a decade.
Notwithstanding that, BTC quickly changed hands, trading at $63,720 as of this writing.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
