Mt. Gox transfers $35 million in Bitcoin to unknown wallets
On November 1, Mt. Gox, the defunct cryptocurrency exchange, moved 500 Bitcoin (CRYPTO:BTC), valued at roughly $35 million, from its cold wallet to several unidentified addresses.
Blockchain analysis platform Arkham reported the movement, tracing the initial transfer to an address beginning with “12cTj.”
This was followed by two additional transactions—31.78 BTC and 468.24 BTC—each sent to separate unmarked addresses.
This transaction marks the first significant movement from Mt. Gox-associated wallets in more than a month, as per Arkham’s data.
Despite this recent activity, approximately 44,905 BTC, worth around $3.1 billion, remains in wallets tied to Mt. Gox.
The last major transfer occurred in August, involving a 12,000 BTC movement.
The latest activity comes amid extended repayment deadlines for creditors, with the due date now set for October 31, 2025.
The delay in creditor repayments is partly attributed to system issues that resulted in some creditors receiving duplicate payments.
The exchange’s trustee has requested that recipients of excess funds return the overpaid amounts and noted that several creditors must still complete required procedures to claim their payments.
Mt. Gox, once a key player in Bitcoin trading, ceased operations in 2014 after a series of security incidents led to its collapse.
The prolonged repayment process and potential liquidation of Bitcoin assets by creditors have raised concerns about the possible impact on Bitcoin’s market value.
At the time of reporting, the Bitcoin price was $69,541.04.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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