A cold wallet linked to the bankrupt cryptocurrency exchange Mt. Gox transferred over $2 billion worth of Bitcoin, raising speculation that repayments to creditors could soon resume.
Mt. Gox Wallet Transfers Over $2 Billion in Bitcoin
According to data from Arkham Intelligence, at 11:39 UTC, a wallet labeled “1FG2C…Rveoy” transferred approximately 27,871 BTC (worth $2.24 billion) to a new address named “1Fhod…QLFRT” and 2,500 BTC (worth about $200 million) to Mt Gox’s cold wallet.
This activity comes after the wallet received a total of 30,371 BTC from Mt. Gox just six days ago.
The transaction is part of a recent surge in activity on Mt Gox-linked wallets that have been dormant since late October, reviving creditors’ hopes for impending payments.
While it has not yet been confirmed whether this transfer is linked to repayment plans, previous such moves have often pointed to impending creditor distributions processed through major exchanges like Bitstamp and Kraken.
Once the world’s largest bitcoin exchange, Mt. Gox suffered a major security breach in 2014, resulting in the loss of 850,000 BTC and affecting thousands of creditors.
This month’s transactions occurred amid ongoing delays in the repayment timeline, with the latest regulation moving the deadline from October 31, 2024 to October 31, 2025. The exchange currently holds 44,378 BTC, according to Arkham data, with that money earmarked for creditor repayments.
*This is not investment advice.