Mt. Gox Hacker Wallet Goes Active? 80K Bitcoin On The Line?

Bitcoin News: Bitcoin, the world’s largest crypto price is on a decline due to increased selling pressure in the market. However, several recent recorded whale transactions have fueled this pressure even more. A wallet holding around 80,000 Bitcoin has landed into attention after several dormant whales recently moved their BTC holdings.

Also Read: Multiple Dormant Bitcoin Whales Awaken; What Does It Mean?

Over 8K Bitcoin On The Move

As per the data, crypto whales moved around 8,200 Bitcoins (approx worth $225 million) in three mega transactions over the past 5 days. It is important to note that these whales have been sleeping for more than 10 years. However, 2071 BTC are reportedly transferred to the Kraken crypto exchange.

The biggest transaction recorded by the tracker has been of moving 6,071 Bitcoin (approx worth $178 million).

On chain tracker highlighted that a whale address holding 79,957 Bitcoin. The wallet reportedly didn’t get active as no BTC has been moved from this wallet in the last 12 years. However, it is speculated that this address belongs to the Mt.Gox hacker. Meanwhile, someone randomly sent 0.00001 Bitcoin in the past year. Read More Bitcoin News Here…

Tokyo based crypto exchange Mt. Gox operated between 2010 and 2014 was responsible for around 70% of Bitcoin transactions. The exchange got hacked in 2014 as thousands of Bitcoin were stolen, while, the company went on to file for bankruptcy.

Also Read: XRP Lawyer Bids In For Coinbase Referring His XRP Case Filing

BTC Decline Continues

Bitcoin attained the much anticipated $30K price level on April 11, 2023. However, BTC lost the $30 price level on April 19, 2023 and since then it has been on a decline. Bitcoin price dropped by almost 10% in the last 7 days.

Bitcoin is trading at an average price of $27,327, at the press time. Its 24 hour trading volume is marginally down to stand around $15.5 billion.