Mt. Gox sends 500 bitcoin to two unmarked wallets: Arkham data

by Jordan Leech

Bankruptcy • November 1, 2024, 7:50AM EDT

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Quick Take

Mt Gox sent 500 bitcoin to two unmarked wallets
The transfer is the first carried out by the defunct crypto exchange since September

The Mt. Gox estate transferred 500 BTC ($35.04 million) to two unknown wallets on Friday, according to blockchain analytics firm Arkham.

The defunct cryptocurrency exchange carried out the two transactions just before 1 a.m. UTC, sending 31.78 BTC to one address and 468.24 BTC to the other, marking the first transaction since the end of September, according to data from Arkham. Both wallets then made further transfers.

As the wallets are unmarked, it remains unclear if the transfers were part of future distributions to Mt. Gox creditors. Still, such movements in the past have preceded repayments via distributors such as crypto exchanges Bitstamp and Kraken. According to Arkham, Mt. Gox still holds 44,905 Bitcoin, worth over $3.1 billion at publication.

Earlier this month, Mt. Gox postponed its repayment deadline from Oct. 31, 2024, to Oct. 31, 2025.

Established in 2010, Mt. Gox operated the largest bitcoin exchange in the world until the platform suffered a major security breach in 2014, causing the loss of at least 850,000 BTC. Thousands of creditors have been waiting to have their bitcoin returned to them, a process that has been unfolding over the past months.

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About Author

Jordan Leech is a Berlin-based Editorial Intern at The Block. He has worked for several years as a broadcast journalist, camera operator, and producer before aiming to get established working in the crypto industry. Jordan holds a degree in Philosophy and Political Science from the University of Guelph and is an avid photographer and traveller in his free time.