Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Mt. Gox transfers $35 million in Bitcoin to unknown wallets

Mt. Gox transfers $35 million in Bitcoin to unknown wallets

GrafaGrafa2024/11/01 06:37
By:Mahathir Bayena

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.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!