Mt. Gox Moves $1B in Bitcoin
Mt. Gox Transfers Over $1 Billion in Bitcoin
A wallet associated with the defunct cryptocurrency exchange, Mt. Gox, recently transferred 12,000 Bitcoin (worth over $1 billion) to an unknown address. This significant transaction occurred as Bitcoin's price surged to near $90,000, according to data from Arkham Intelligence. This follows months of inactivity from the Mt. Gox wallet.
Key Takeaways
- Mt. Gox transferred 12,000 Bitcoin (over $1 billion).
- An additional 166,505 Bitcoin were moved to an internal wallet.
The Mt. Gox-associated wallet also moved 166,505 Bitcoin (approximately $15 million) to its cold storage wallet. These transactions mark a break in a prolonged period of inactivity, following a $172 million Bitcoin transfer last December. The entity still holds over 36,000 Bitcoin, currently valued at roughly $3.3 billion.
Mt. Gox has extended its creditor repayment deadline to October 31, 2025, citing ongoing verification processes. While some creditors have received fiat payments, others await compensation in Bitcoin or Bitcoin Cash. While past Mt. Gox activity has sometimes impacted market sentiment, these recent transfers have had a minimal effect on Bitcoin's price. However, concerns remain about potential future price volatility if creditors begin selling their holdings upon full compensation.
At the time of writing, Bitcoin is trading at approximately $90,100, reflecting a 4% increase over the past 24 hours (data from TradingView).
Codeum provides comprehensive blockchain security solutions, including smart contract audits, KYC verification, custom smart contract and DApp development, and tokenomics consultation. We partner with launchpads and crypto agencies to ensure the security and success of blockchain projects.