UPDATE: Mt. Gox moves billions of dollars in bitcoin ahead of anticipated payouts

Reported by The Block: Mt. Gox bitcoin wallets transferred around $5.8 billion in BTC to currently unknown addresses on Tuesday.

At 6:49 a.m. UTC on Tuesday, a bitcoin wallet known to be associated with Mt. Gox transferred nearly 42,588 BTC ($2.7 billion) to a currently unknown address, "18vjn," according to labeling on blockchain analytics platform Arkham.

The large movement followed what was presumed to be a test transaction at 5:13 a.m. UTC when a Mt. Gox wallet transferred 0.021 BTC ($1,320) to an unknown address. At 6:39 a.m. UTC, Mt. Gox also transferred 44,000 BTC ($2.8 billion) internally.

In a later transaction at 8:12 a.m. UTC, another Mt. Gox labeled address sent over 48,641 BTC ($3.1 billion) to the unlabeled address "3JQie."

Earlier this month, Mt. Gox moved nearly 47,229 BTC to a new wallet.

The movements come ahead of its impending approximate $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.

Mt. Gox still holds nearly 139,000 coins worth over $8.7 billion at current prices, according to Arkham.