2025-03-06
The bankrupt crypto exchange Mt. Gox
has transferred 12,000 Bitcoin (BTC) to an unknown wallet, causing speculation
in the market.
On March 6, blockchain tracking firm Arkham
Intelligence reported that the Mt. Gox wallet moved these 12,000 BTC, worth $1.09 billion. The transaction fee was just $1.64.
Arkham on X: "ARKHAM ALERT: MT GOX MOVING $1B $BTC
Where did the Bitcoin go?
166.5 BTC (worth about $15 million) was
sent to Mt. Gox’s cold storage. The remaining 11,834 BTC was sent to an unknown
wallet.
In total, Mt. Gox-related wallets hold 36,080
BTC (worth around $3.26 billion).
This is the first big Bitcoin movement
from Mt. Gox wallets in a month. In December 2023, it moved 1,620 BTC, and two
weeks before that, 24,000 BTC.
Background: Mt. Gox’s bankruptcy and creditor
repayments
Mt. Gox collapsed in 2014 after losing
a large amount of Bitcoin. Some of its past transactions have been linked to repaying
creditors.
In 2024, the first repayments began. However,
in October 2023, the trustee managing the funds delayed full repayments until October
31, 2025.
This move happened during a volatile
week for crypto markets.
On March 4, the U.S. introduced new trade
tariffs, affecting risky assets like Bitcoin. Bitcoin’s price fluctuated from $94,770
(March 3) to $82,681 (March 4) before recovering to $90,000 (March 5).
