Defunct cryptocurrency exchange Mt.Gox moved 11,501 BTC worth approximately $905 million to an unmarked wallet address, according to Arkham Intelligence data.
Mt. Gox Moves $905 Million Worth of Bitcoin to Unmarked Wallet, Fueling Chargeback Speculation
- Toplam hareket: 11.833,64 BTC (931 milyon dolar)
- 11,501 BTC sent to unmarked wallet “1Pazv…R9pYj”
- 332 BTC transferred to Mt. Gox hot wallet
- Current status: Transferred funds remain unspent
Impact on Market and Creditor Repayments
Mt.Gox’s Bitcoin transfers have historically occurred ahead of creditors’ repayments, raising concerns about potential selling pressure in the market. But it remains unclear whether Monday’s move was part of a planned rollout.
The $900 million transaction originated from the Mt. Gox wallet “1Mo1n,” which received $1.07 billion worth of BTC from another exchange wallet last week. This wallet was not previously marked as belonging to Mt. Gox on Arkham Intelligence.
Background on Mt. Gox’s Collapse and Chargebacks
Mt. Gox, once the largest Bitcoin exchange and handling 70% of global BTC transactions in 2013, collapsed in 2014 after losing 850,000 BTC in a massive hack. The exchange has filed for bankruptcy protection and is gradually working on refunds.
Important Refund Developments
- Temmuz 2024: Mt. Gox elindeki varlıklardan geri ödemelere başladı:
- 142,000 BTC ($11 billion)
- 143,000 Bitcoin Cash ($47 million)
- 69 billion Japanese yen ($469 million)
- Repayment delays: While some creditors are receiving funds through Kraken and Bitstamp, the repayment deadline has been pushed back to October 31, 2025.
- Remaining funds: Mt. Gox currently holds $2.8 billion worth of BTC in various wallets.
The latest transfer has raised speculation about imminent creditor distributions, with Mt.Gox yet to confirm the purpose of the move.
*This is not investment advice.
