Mt. Gox Transfers Bitcoin

Defunct crypto exchange Mt. Gox sent over $2 billion worth of bitcoin to two addresses on Sunday, possibly marking the next round of creditor repayments.

At 11:39 p.m. UTC on Sunday, a wallet marked “1FG2C…Rveoy” transferred approximately 27,871 BTC (valued at $2.24 billion) to a new wallet named “1Fhod…QLFRT,” along with 2,500 BTC (around $200 million) to Mt. Gox’s cold wallet. According to data from Arkham Intelligence, the sender wallet had received a total of 30,371 BTC from Mt. Gox six days prior.

These recent transactions from Mt. Gox’s remaining bitcoin began at the end of October following a break of over a month. While it remains uncertain whether the transfers on Monday are part of future creditor distributions, similar movements have historically preceded repayments via centralized exchanges such as Bitstamp and Kraken. As of now, Mt. Gox holds 44,378 bitcoin, according to Arkham data.

Founded in 2010, Mt. Gox was the largest bitcoin exchange globally until its major security breach in 2014 resulted in the loss of at least 850,000 BTC. Thousands of creditors have been awaiting the return of their bitcoin, a process that has been ongoing for several months.

Last month, the defunct exchange postponed its repayment deadline from October 31, 2024, to October 31, 2025.