6,800 BTC from Mt. Gox not linked to ex-CEO’s plans to redistribute $6 billion

A recent whale alert mistakenly associated an F2pool cold wallet with Bitcoin (BTC) exchange Mt. Gox, which transferred 6,800 BTC to an unknown wallet just days after former CEO Mark Karpeles revealed plans to redistribute BTC for value. of USD 6 billion to its creditors.

Mt. Gox was a Tokyo-based Bitcoin exchange that closed in February 2014 after an attack that compromised 850,000 BTC. In a recent interview, Karpeles revealed that the exchange had approximately 200,000 BTC in possession during the company’s closure, of which the trustee sold approximately 50,000 BTC for $600 million in the past.

According to Karpeles, the remaining 150,000 BTC currently held by Mt. Gox have grown in value over the years, and are worth more than $6 billion. After this revelation, the former CEO confirmed plans to redistribute the money and settle accounts with creditors.

6,800 BTC (318,980,017 USD) transferred from MtGox cold wallet to unknown wallet

Five days after Karpeles’ interview, Crypto Twitter’s @whale-alert highlighted that 6,800 BTC, worth nearly $319 million, was transferred to an unknown wallet from a cold wallet belonging to the now-defunct Mt. Gox exchange. Contradicting the whale watch, the founder of F2pool, Chun Wang confirmed that the wallet address had the wrong branding and that the address was associated with early F2pool miners.

Whale Alert said that 6,800 BTC ($318,980,017) was transferred from the MtGox cold wallet to an unknown wallet. However, the founder of F2pool said that the mark is wrong, it is not the Mtgox wallet address, but the address associated with the first f2pool miners.

The screenshot below shows the details about the transfer of 6,800 BTC between F2pool’s Mtgox wallet and the unknown wallet, as shown on WhaleAlert.

Despite not being operational for more than 8 years, the Mt. Gox team has previously shared a rehabilitation plan to compensate creditors. As @thisisbullish pointed out, the alleged wallet address linked to Mt. Gox has not recorded any outflow.

This is the Gox account that I have, there is no movement.

… was it a reference to April Fools’ Day?

Disclaimer: An earlier version of the story said that 6,800 BTC was transferred from a cold wallet linked to Bitcoin exchange Mt. Gox. However, F2pool founder Chun Wang later denied the claims by clarifying that the wallet in question belonged to F2pool miners and was mismarked as Mtgox.

While crypto companies continue to adopt various security measures to defend against attacks, bad actors have kept up with the change to lure in unsuspecting investors.

Warning @BearsRare

Unfortunately, Discord has been compromised. DO NOT click on any links, connect with your wallet and block all incoming DMs on our discord. Our team is working on the issue as we speak.

On March 18, the recently launched non-fungible token (NFT) project Rare Bears confirmed a successful phishing attack, resulting in a loss of nearly $800,000 worth of NFTs.

As Cointelegraph reported, the hacker was able to compromise a moderator’s account on Discord and posted phishing links that ultimately drained users’ wallets. The Rare Bears team was finally able to remove the compromised account and protect the server from further attacks.

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