Mt. Gox recently moved a substantial amount of Bitcoin to the Bitstamp cryptocurrency exchange amid ongoing creditor repayments.

On-chain data from Arkham Intelligence shows that the initial transaction took place at 04:46 UTC, moving 32,371 BTC worth $2.13 billion to the newly-activated address ‘12Gws9’ and 5,106 BTC valued at $336.61 million to the Mt. Gox Cold Wallet (1Jbez). The total amount of Bitcoin transferred is approximately $2.47 billion.

According to Arkham Intelligence, these transactions follow the transfer of 47,000 BTC to two new addresses on July 23. Shortly after receiving the funds, the Mt. Gox Cold Wallet (1Jbez) transferred 5,106 BTC to a Bitstamp address.

Bitstamp also received 2,238 BTC from Mt. Gox on July 23, following a series of test transactions on July 22. These inflows into Bitstamp suggest the platform might be preparing to repay creditors, especially since Kraken users have already started confirming repayments. Kraken acknowledged receiving tokens on July 16.

Meanwhile, the new wallet involved, ‘12Gws9,’ continues to hold the 32,371 BTC received earlier. The address (15yPU) responsible for the initial transaction now holds an empty balance.

Since announcing its plans to begin creditor repayments on July 5, Mt. Gox has been moving thousands of Bitcoin, with most tokens eventually landing on centralized exchanges responsible for these repayments. The defunct Bitcoin exchange moved 96,390 BTC to unidentified addresses on July 16, coinciding with Kraken’s confirmation of creditor balances. Despite these movements, the market has not been significantly impacted, with BTC trading at $66,360, down 0.85% over the past 24 hours.

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