Mt. Gox moves $739 million worth of bitcoin to two addresses: Arkham
Defunct crypto exchange Mt. Gox moved a combined $739 million worth of bitcoin (BTC) to two addresses early Tuesday, according to Arkham Intelligence data.
Mt. Gox transferred 10,306 BTC, worth roughly $730.8 million, from its cold wallets to the unmarked address "14FE…c9eq" at around 4:47 a.m. UTC on Tuesday. It also moved 116.3 BTC to its hot wallet at the same time, Arkham shows.
The Arkham page currently marks the transferred bitcoin as "unspent," and it remains unclear whether the funds would be used for future creditor repayments. Large bitcoin movements in the past have often preceded distributions to creditors.
Tuesday's transactions marked the entity's first bitcoin movement since late March, when it shifted a relatively small amount of bitcoin between its wallets.
Mt. Gox currently holds 34,504 BTC, valued at roughly $2.43 billion, across its wallets, per Arkham data.
The Tokyo-based exchange began repaying creditors in July 2024 through partner exchanges including Kraken and Bitstamp. However, the exchange's rehabilitation trustee last year extended the repayment deadline to October 2026, marking the third postponement since the original Oct. 31, 2023 deadline.
Mt. Gox was once the world's largest bitcoin exchange, handling around 70% of global bitcoin trades in 2013. It collapsed after losing around 850,000 BTC in a 2014 hack, leading the company to file for bankruptcy protection.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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