Many had objected that this address might not belong to Mt.Gox Exchange. But finally, it has been proved that those addresses are owned by Mt. Gox.
Mt. Gox Trustee Confirms Past Bitcoin Sell-Off worth $230 Million
The Official Website of Mt. Gox has just put out an update (English, Japanese) stating that they have sold 24,658.00762 BTC & 25,331.00761 BCH total for JPY 25,975,702,352 approx $230 Million. This sale was made on the 7th of March, 2018. On 22nd June 2018, they had got approval that allowed the estate to exit bankruptcy and enter the civil rehabilitation.
When one converts the sale of 26 Billion JPY worth BTC & BCH, the total comes to an average of $8,100 per BTC and $1,190 per BCH. The income goes to the directors of the company. When compared to the current price, which is $6,420 per Bitcoin and $438 per Bitcoin Cash we can say that the sale had happened at a decent profit margin.
Nobuaki Kobayashi said in his statement that the main purpose of the sale of Bitcoin & Bitcoin cash was to secure the interests of all bankruptcy creditors. And also it was required as per the law so that the estate could enter into civil rehabilitation.
Due to the Sale, the bankruptcy trustee has already secured a suitable amount of money to secure the interests that are expected to have obtained by BTC creditors under the Bankruptcy Proceedings in connection with BTC claims to be treated as non-monetary claims under the Civil Rehabilitation Proceedings. Accordingly, the bankruptcy trustee has determined that the interests expected to have already been obtained in the Bankruptcy Proceedings can be secured without taking the profit-securing measures under the Trust Agreement and Guarantee Entrustment and Guarantee Agreement for the BTC claims, and the BTC claims are not included in the subject protected claims under the Trust Agreement and the Guarantee Entrustment and Guarantee Agreement.
We had reported in past that Mt Gox had sold around 16000+ BTC & BCH.
If one tracks all the addresses mentioned by Reddit user nikuhodai, one can come to a conclusion that the Mt. Gox cold wallets still hold 137,891 BTC and BCH with the current market price of BTC & BCH the value goes up around $945 Million.
The Mt. Gox exchange was hacked and went totally down in 2014 following $470 million BTC theft. The BTC which were stored in cold wallets were not hacked and remained safe in the hands of Mt. Gox director.