Mt. Gox moves nearly $2.7 billion in bitcoin ahead of anticipated payouts

A bitcoin wallet known to be associated with Mt. Gox has transferred nearly $2.7 billion in BTC +0.15% to a currently unknown address ( 18vjn…ct9b ), according to labeling on blockchain analytics platform Arkham.

The large movement followed what was presumed to be a test movement only minutes before when a Mt. Gox wallet transferred 0.021 BTC to an unknown address.

Earlier this month, Mt. Gox moved over 47,000 BTC to new wallet.

The movements come ahead of its impending $9 billion worth of bitcoin repayments to creditors.

The defunct exchange filed for bankruptcy in February 2014 after multiple heists saw upwards of 950,000 BTC stolen.

The price of bitcoin dropped from roughly $65,000 to around $63,000 in the hours surrounding the latest transfers today.

This story is developing and may be updated with additional information.