Key Points
- Mt. Gox made two BTC transfers earlier today.
- On-chain data revealed a second transfer worth over $15 million, probably to BitGo.
Today, the defunct crypto exchange Mt. Gox made two transfers to crypto wallets, according to on-chain data. One larger transfer was sent to a new address, and the second smaller transfer was reportedly sent to a cold wallet.
Mt. Gox Transfers Over $1 Billion in BTC
Early this morning, Lookonchain revealed that Mt. Gox transferred almost 11.834 BTC worth over $1 billion to a new address, citing data from Arkham Intelligence.
Lookonchain via X
According to Arkham data, the transfer was made on March 6, at 00:03:17 (UTC) to a wallet starting with “1Mo1nW5” from Mt. Gox’s wallet.
Lookonchain revealed that around the same time, Mt. Gox moved another 166.5 BTC worth over $15 million to a cold wallet, probably belonging to BitGo.
Lookonchain via X
The transfer came shortly after the first transaction.
Mt. Gox Repayments Began in July 2024
Thousands of creditors have been waiting to receive their BTC back from the defunct crypto exchange.
In October 2024, Mt. Gox announced that the repayment deadline was pushed back from the initial date by 12 months to October 31, 2025.
In July 2024, the crypto exchange initiated a series of fund transfers as part of its ongoing efforts to reimburse credits affected by the hack in 2014.
Back then, it was revealed that the exchange was coordinating with Bitstamp and four other exchanges to facilitate the repayments.
The total amount being moved in July of last year was substantial, around $6 billion worth of Bitcoin.
The Tokyo-based exchange Mt. Gox was launched in 2010, and it became the largest BTC exchange by 2013, servicing 70% of all BTC trades worldwide.
In Early 2014, it stopped all withdrawals when the business suspected trading, and the website soon went offline. The company filed for bankruptcy protection after losing over 800,000 BTC.
At today’s prices, this translates into almost $78 billion worth of BTC.
