What You Need to Know
- The defunct Japanese cryptocurrency exchange Mt. Gox has moved significant amounts of bitcoin, transferring 893 BTC (valued at $78.11 million) to its hot wallet and 10,608 BTC (valued at $927.48 million) to a change wallet, as reported by Arkham Intelligence.
- This marks the third notable on-chain fund movement by the exchange in just four weeks, with earlier transfers surpassing $900 million and $1 billion in bitcoin.
- Unlike last year, these recent transactions have not influenced the market price or raised concerns regarding creditor liquidations, especially considering that the exchange has postponed its full creditor payout deadline to October 31, 2025.
Defunct Japanese cryptocurrency exchange Mt. Gox attracted attention on Tuesday, moving a staggering amount of bitcoin (BTC) to two separate wallets, according to blockchain data analytics from Arkham Intelligence.
The associated wallet addresses transferred 893 BTC ($78.11 million) to one designated as 1Jbez and 10,608 BTC ($927.48 million) to a wallet marked as 1DcoA, during the early trading hours in Asia when bitcoin was trading over $87,000 in the market.
These actions represent the exchange’s third significant on-chain funds movement in the last month. Previously, Mt. Gox transferred over $900 million on March 11, and another $1 billion on March 6. However, the latest transfers have not yet influenced the spot price significantly, as observed in early trading this month.
This starkly contrasts with the situation last year when Mt. Gox’s transactions sparked fears regarding creditor liquidations, resulting in market instability. Last October, the entity extended its complete deadline for creditor payouts by a year to October 31, 2025, due to ongoing verification processes for claimants.
