Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
Arkham analysts said the wallet likely belongs to crypto custody platform BitGo.from defunct exchange Mt. Gox's trustee initiated a test transaction on Tuesday, perhaps to prepare distributing funds to creditors, blockchain analytics firm Arkham Intelligence noted.
Arkham analysts said the wallet that initiated the transfer likely belongs to crypto custody platform BitGo, one of the five exchanges that distribute tokens to creditors. BitGo is the last remaining distribution partners, they added. The test transaction followed a 33,100 BTC transfer two weeks ago, worth $2.2 billion at the time, from a Mt. Gox cold wallet holding creditors' funds.
Arkham explained the process of tagging the wallet as likely BitGo in a Telegram message to CoinDesk."The address was clustered with a large input cluster which we were able to identify as BitGo due to custody structure and wallet types used," an Arkham analyst said."We’ve also been able to identify the other fur exchange partners used for Mt. Gox distributions, so there’s also a process of elimination."Japan-based Mt.
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