Mt. Gox moves $2.2 billion worth of bitcoin to unmarked wallets: Arkham

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The Block2024/11/03 16:00

By:The Block

Quick Take Mt. Gox transferred around 32,371 BTC to two unknown wallet addresses on Monday evening, according to Arkham data. The exchange moved 500 BTC last week, as it works to repay creditors.

Mt. Gox moves $2.2 billion worth of bitcoin to unmarked wallets: Arkham image 0

Defunct crypto exchange Mt. Gox transferred around 32,371 BTC ($2.19 billion) to unmarked wallet addresses on Monday, according to data from blockchain analytics firm Arkham.

Out of the $2.19 billion move, about 30,371 BTC was transferred to wallet address “1FG2C…Rveoy,” and 2,000 BTC was moved to Mt. Gox cold wallet “1Jbez…LAPs6.” The 2,000 BTC was later moved to an unmarked wallet “15gNR…a8Aok.”

Monday’s transfer, the largest seen from Mt. Gox in months, came just a few days after the exchange moved 500 BTC to two unmarked wallets. This was the first move seen from Mt. Gox since the end of September.

While it is unclear whether Monday’s transfer is part of Mt. Gox’s future distributions to creditors that lost money in the bankrupt exchange, such movements in the past have preceded repayments via centralized exchanges including, Bitstamp and Kraken.

Last month, Mt. Gox announced that it is postponing its repayment deadline from Oct. 31, 2024, to Oct. 31, 2025.

Mt. Gox, founded in 2010, operated the largest bitcoin exchange in the world until the platform suffered a major security breach in 2014, causing the loss of 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.

The article was updated to reflect the latest movements.

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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