Mt. Gox Transfers 2,500 BTC

Bankrupt crypto exchange Mt. Gox transferred 2,500 BTC, valued at $222 million, to two unmarked wallet addresses on Monday. This transfer is the fifth batch of bitcoin sent by Mt. Gox in October.

At approximately 11:43 p.m. EST on Monday, a Mt. Gox cold wallet transferred a total of 2,500 BTC to the wallets “1PQZw…DDJtK” and “bc1q8…kv4tz.” The former wallet then moved the bitcoin to other addresses.

Since October 31, the defunct exchange has been conducting a series of bitcoin transfers, both internally and externally. Last week's bitcoin movements were the largest seen in months, totaling over $2 billion.

It remains unclear if Monday’s transfer is part of future distributions to creditors. Past movement patterns have often preceded repayments through centralized exchanges like Bitstamp and Kraken. Last month, Mt. Gox postponed its repayment deadline from October 31, 2024, to October 31, 2025.

In July, Bitcoin dipped 3.38% below $59,000, marking its lowest price since May, around the same time Mt. Gox moved 47,229 BTC in anticipation of a near $9 billion payout.

Founded in 2010 in Tokyo, Mt. Gox was once the largest bitcoin exchange globally until a major security breach in 2014 led to the loss of at least 850,000 BTC. Thousands of creditors have been awaiting the return of their bitcoin, with the process ongoing over recent months.