Defunct cryptocurrency exchange Mt. Gox transferred approximately 32,371 BTC, valued at around $2.19 billion, to unmarked wallet addresses on Monday evening.
Defunct cryptocurrency exchange Mt. Gox transferred approximately 32,371 BTC, valued at around $2.19 billion, to unmarked wallet addresses on Monday evening.
The transaction, reported by blockchain analytics firm Arkham, marks the largest movement from Mt. Gox in several months.
The recent transfer included about 30,371 BTC sent to a wallet address identified as “1FG2C…Rveoy,” while another 2,000 BTC was moved to a Mt. Gox cold wallet designated as “1Jbez…LAPs6.” Notably, the latter sum was subsequently transferred to a different unmarked wallet address, “15gNR…a8Aok.”
This action follows a previous transfer of 500 BTC to unmarked wallets last week, indicating a possible pattern in the exchange's recent activities.
The motivations behind these movements remain unclear, with speculation surrounding whether they are preparing for future repayments to creditors affected by the exchange's bankruptcy. Historically, similar transfers have preceded repayments through centralized exchanges such as Bitstamp and Kraken.
Mt. Gox, once the largest Bitcoin exchange globally, faced a catastrophic security breach in 2014, resulting in the loss of at least 850,000 BTC.
Since then, thousands of creditors have awaited the return of their funds, with the repayment process ongoing. Last month, the exchange announced a postponement of its repayment deadline from Oct. 31, 2024, to Oct. 31, 2025.
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