The defunct crypto exchange Mt. Gox has managed to shuffle $2.4 billion worth of Bitcoin '(BTC)' between wallets as it continues to capture market attention. This transfer has coincided with Bitcoin's ascent, which recently touched $81,000 over the weekend.

Trustees moved more than 30,000 BTC from '1FG2C…Rveoy' to a new wallet '1Fhod…LFRT', along with $200 million directed to a Mt. Gox cold wallet. The wallet '1FG2C…Rveoy' was noted to be the main recipient of BTC during the most recent transaction cycle, drawing insights from Arkham.

Such moves usually indicate preparations by exchanges to offload crypto on the open market. Mt. Gox, once the largest player in the cryptocurrency realm, processed over 70% of Bitcoin transactions in its heyday. The platform suffered a catastrophic hack in early 2014, leading to the loss of around 740,000 BTC (valued over $15 billion today).

Moreover, the trustees have outlined a repayment strategy, with a timeline extending to October 31, 2025.

Mark Karpeles, Former CEO of Mt. Gox, talking to CoinDesk's Sam Reynolds at Korea Blockchain Week on Sept. 4. (Parikshit Mishra/CoinDesk)