All articles tagged with #mt gox
Bitcoin traders are optimistic about BTC reaching $70,000, driven by a favorable macro environment and the potential for a crypto-friendly U.S. administration under Donald Trump. Reduced selling pressure from key wallets and positive political developments, including Trump's pro-crypto stance and his selection of a crypto-friendly running mate, have bolstered bullish sentiment despite recent volatility and concerns over Mt. Gox repayments.
Bitcoin fell below $68,000 after Mt. Gox transferred $9 billion worth of BTC, likely to repay creditors. Solana validators will receive 100% of priority fees following a governance proposal. Elwood Technologies, backed by Alan Howard, is in talks to sell part of its business. Despite the dip, Bitcoin reclaimed $68,000, and the CoinDesk 20 Index is up 0.3%.
Bitcoin's price fell after a wallet linked to the defunct Mt. Gox exchange moved $9 billion worth of BTC, sparking fears of market volatility. The transfer, which involved 68 transactions, represents about half of Mt. Gox's holdings. The price of Bitcoin dropped to $67,555.01 before recovering to $68,000. Mt. Gox, once the largest Bitcoin exchange, filed for bankruptcy in 2014 after losing 850,000 BTC to hackers.
Mt. Gox transferred over 140,000 BTC, worth around $9 billion, to a single address in thirteen transactions, likely as part of a plan to repay creditors by October 31, 2024. The market reacted bearishly, with Bitcoin dropping by 1.4% to $67,680. This is the first movement of assets from Mt. Gox's cold wallets in over five years.
Bitcoin's price dropped below $68,000 following reports that Mt. Gox has started processing payouts to creditors, releasing approximately 75,000 BTC worth over $5.1 billion. This has raised concerns about market liquidity and price stability. Analysts and on-chain data confirm significant Bitcoin movements, with speculation on whether creditors will hold or sell their received Bitcoins.
The US Department of Justice is charging two Russian nationals for their alleged involvement in the infamous hack of defunct crypto exchange Mt. Gox. The defendants allegedly gained unauthorized access to the server holding the wallets of Mt. Gox and transferred 647,000 BTC from the platform to wallets controlled by them. They are also charged with conspiring to launder hundreds of thousands of Bitcoin hacked from Mt. Gox and operating BTC-e, a crypto exchange allegedly linked to money laundering and the Mt. Gox hack. If convicted, both defendants face decades behind bars.
The US Department of Justice has indicted two Russian men for the 2011 hack of Mt. Gox, accusing them of siphoning out coins from the exchange for three years until it declared bankruptcy in 2014. Meanwhile, a study has found a vast network of child exploitation images and videos being sold and even commissioned on Instagram's open, public network, with automated recommendation algorithms promoting more CSAM materials to users who sought that horrific content. The notorious Russia-linked ransomware gang known as Clop has taken responsibility for stealing data from "hundreds of companies" through a vulnerability in the file-transfer service MOVEit Transfer, while cryptocurrency tracing firm Elliptic has found blockchain evidence tying a $35m hack of Atomic Wallet to North Korean state-sponsored hackers.
The US Justice Department has charged two Russian nationals, Alexey Bilyuchenko and Aleksandr Verner, for allegedly stealing 647,000 Bitcoin from the former cryptocurrency exchange Mt. Gox through a hack of its servers. The two men are also accused of conspiring to launder the stolen Bitcoin through another exchange they controlled, BTC-e. Prosecutors claim the hack occurred over a period of more than a year, from September 2011 until at least May 2014. Bilyuchenko is also charged with conspiring to operate BTC-e, which was shut down in 2017 due to money laundering allegations.
Unsealed court documents reveal that Russian nationals Alexander Verner and Alexey Bilyuchenko, along with unnamed co-conspirators, stole 647,000 bitcoin from Mt. Gox between 2011 and 2014, with 300,000 of those coins going to BTC-e. The stolen bitcoin was liquidated using U.S. companies, including BitInstant and Memory Dealers. BTC-e was shut down by the FBI in 2017, and its alleged operator, Alexander Vinnik, was arrested in Greece and later extradited to the U.S. to face charges for computer intrusions, hacking incidents, and money laundering. The unsealed indictment also reveals that BTC-e served about 700,000 users, including the ransomware gang CryptoWall and Fancy Bear, the hacker group believed to be sponsored by Russia's military intelligence agency.
Two Russian nationals have been charged by the US federal government for their involvement in the 2014 hack of the Mt. Gox Bitcoin exchange, which resulted in the theft of 647,000 Bitcoins worth around $400 million at the time. The DOJ alleges that the two men, Alexey Bilyuchenko and Aleksandr Verner, conspired to launder the stolen Bitcoins and that Bilyuchenko also worked with Alexander Vinnik to operate BTC-e, a now-defunct crypto exchange that laundered funds for cybercriminals. Bilyuchenko faces charges of conspiracy to commit money laundering and operating an unlicensed money services business, while Verner is charged with conspiracy to commit money laundering.
Two Russian nationals have been charged with conspiring to launder approximately 647,000 bitcoins from their hack of Mt. Gox and operating the illicit cryptocurrency exchange BTC-e from 2011 to 2017. The charges were unsealed by the US Justice Department. The two accused, Alexey Bilyuchenko and Aleksandr Verner, allegedly stole a massive amount of cryptocurrency from Mt. Gox, contributing to the exchange’s ultimate insolvency. They then allegedly went on to help set up the notorious BTC-e virtual currency exchange, which laundered funds for cyber criminals worldwide.
Two Russian nationals have been charged with conspiring to launder approximately 647,000 bitcoins from the 2011 hack of Mt. Gox and operating the illicit cryptocurrency exchange BTC-e from 2011 to 2017. The charges were announced by the US Attorney for the Southern District of New York, the Assistant Attorney General for the Department of Justice’s Criminal Division, and other officials. The defendants are accused of stealing a massive amount of cryptocurrency from Mt. Gox and laundering the bulk of the stolen bitcoins through bitcoin addresses associated with accounts they controlled at two other online bitcoin exchanges.
Crypto-services provider Matrixport has stated that the impact of Mt. Gox repayments on the Bitcoin market will be limited. The defunct cryptocurrency exchange was hacked in 2014, resulting in the theft of 850,000 Bitcoins, valued at $500 million at the time and now worth $17.8 billion. Only 200,000 Bitcoins have been recovered, and creditors will receive a base payment with four options to receive the remainder of their funds. The deadline for repayments is September 30, with $1.7 billion in cash, 141,000 Bitcoin, and another 142,000 Bitcoin Cash to be distributed as part of a civil rehabilitation plan.
Bitcoin's price returned to around $29,000 after panic over alleged Mt. Gox and US government transactions faded. The claims turned out to be false, but not before wiping a large slice of open interest from derivatives markets and sending BTC/USD down 7%. Liquidations on Bitcoin passed $150 million, with cross-crypto liquidations totaling over $320 million. Traders are cautious due to the rough price action and intense reaction to the news event on lower timeframes.