First Major Transaction Since January
Bankrupt crypto exchange Mt. Gox has moved over $1 billion worth of bitcoin to an unmarked address, according to blockchain analytics firm Arkham Intelligence.
The transfer occurred at 3:17 UTC on Thursday, with the "1Mo1…9gR9" address receiving 11,834 BTC, worth approximately $1.07 billion from Mt. Gox’s "1PuQB" wallet. This marks the first significant transaction since late January.
Additional Cold Wallet Transaction
In addition to the billion-dollar transfer, Mt. Gox also sent 166.5 BTC (~$15.12 million) to its cold wallet, "1Jbez," just minutes after the larger transaction.
These movements have raised speculation about potential creditor repayments or internal fund restructuring within the exchange.
Background on Mt. Gox’s Collapse
Founded in 2010, Mt. Gox was once the world’s largest bitcoin exchange, handling 70% of all bitcoin trades. However, in early 2014, the exchange abruptly suspended trading and withdrawals before filing for bankruptcy after losing over 800,000 BTC due to a hack.
For over a decade, thousands of creditors have been awaiting repayment. In October 2024, Mt. Gox announced that its repayment deadline had been pushed back to October 31, 2025.
While today’s fund movement does not confirm an imminent distribution, it signals potential activity toward final creditor reimbursements.
