Mt. Gox sends 2,500 BTC to unmarked wallets in fifth bitcoin transfer this month: Arkham
Quick Take
- Mt. Gox sent 2,500 BTC to two unmarked wallet addresses late Monday night.
- The latest transfer marks the fifth batch of bitcoin the defunct crypto exchange moved so far in November.
- Mass bitcoin movements in Mt. Gox and related wallets typically precede creditor repayments.
Bankrupt crypto exchange Mt. Gox transferred 2,500 BTC, or $222 million, to two unmarked wallet addresses on Monday. The latest move marks the fifth batch of bitcoin that Mt. Gox has transferred to another address this month.
At around 11:43 p.m., EST on Monday, a Mt. Gox cold wallet transferred a total of 2,500 BTC to the wallets “1PQZw…DDJtK,” and “bc1q8…kv4tz,” according to data from Arkham Intelligence. The former “1PQZw…DDJtK” wallet then moved the bitcoin to other addresses.
The defunct exchange has been making a series of bitcoin transfers internally and externally since Oct. 31. Bitcoin movements spotted last week were the largest in months, with a total amount of over $2 billion.
While it is unclear whether Monday’s transfer is part of Mt. Gox’s future distributions to creditors, such movements in the past have preceded repayments via centralized exchanges including Bitstamp and Kraken. Last month, the defunct exchange postponed its repayment deadline from Oct. 31, 2024, to Oct. 31, 2025.
In July of this year, Bitcoin fell 3.38% to below $59,000 — its lowest price since May — around the time Mt. Gox moved 47,229 BTC in anticipation of a nearly $9 billion payout, The Block previously reported.
Mt. Gox, founded in Tokyo in 2010, was once the largest bitcoin exchange in the world until the platform suffered a major security breach in 2014 that lost at least 850,000 BTC. Thousands of creditors have been waiting to have their bitcoin returned, a process that has been unfolding over the past few months.
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