Truth About Mt Gox Wallet Bitcoin Transfer News That Led To BTC Crash

Crypto Market News: A bug fix related incident by Arkham Intelligence came at the same time as Bitcoin price crashed on Wednesday, in a roller coaster ride for the top cryptocurrency in the last 24 hours. This came on top of the price correction in crypto market amid weakening macro economic scenario followed by some positive momentum due to the falling First Republic Bank stock price.
Also Read: What’s Ahead For Dogecoin 6 Months After Elon Musk Twitter Takeover
Earlier, popular Twitter account focused on crypto news, DB (tier10k), tweeted quoting an Arkham Intelligence alert that said Mt Gox and US government wallets were making transactions. Although the Bitcoin price had already fallen by the time the tweet was published, Arkham later clarified that the alert was erroneously set to a “small subset of users,” which apparently included DB.
Arkham Explains Bug Fix
Following this, Arkham explained that they had just fixed a bug related to Bitcoin alerts. The fix effectively made them to no longer send alerts to a the users. Further, Arkham said DB had earlier set alerts on Bitcoin transactions above $10,000, with names “Mt Gox” and “US Gov”. Hence, when the bug was fixed, users received the alerts set previously.
“When we fixed a bug causing us to not send alerts on configs like this, he then correctly received many alerts based on his parameters. No one received inaccurate alerts, they simply began receiving the alerts they had previously set.”
Although it is entirely possible that the Bitcoin price crash happened irrespective of the erroneous Arkham alerts, incidents like these could give regulators further scope for tightening laws on crypto market transactions.
Also Read: Binance’s New Initiative On Polygon Aims to Woo US Customers Amid Regulatory Scrutiny
- Just In: DeFi Dev Corp Launches Japan’s First Solana Treasury Company, SOL Price Reacts
- Pi Network Mainnet to Get Major Upgrade in Q4, Says Expert
- Bitwise Solana ETF to Launch This Week as It Amends Staking, Fees? Bloomberg Weighs In
- Canary Capital Trump Coin ETF Secures DTCC Listing as Expert Predicts Price Breakout
- Polymarket Founder Shayne Coplan Teases Potential POLY Token After $2B ICE Deal
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone