A Bitcoin wallet connected to the hacked crypto exchange Mt Gox moved 2,071.5 BTC, worth about $60 million, on April 19, 2023.
The wallet is connected to Mt Gox, the infamous crypto exchange hacked in 2011 and lost hundreds of thousands of bitcoins. The transaction has sparked curiosity among crypto enthusiasts and analysts.
The wallet, which received the bitcoins on December 19, 2013, sent them to an unknown address at 4:45 p.m. (UTC).
Blockchain researcher Taisia traced the funds to a “1McUC” address, which Mt Gox and its original owner Jed McCaleb, who also created Ripple, used.
Taisia said that the “1McUC” address was involved in the Mt Gox hack on June 19, 2011, when a hacker allegedly used a compromised computer to transfer a large number of bitcoins to himself.
The hacker then sold some of the bitcoins at a low price on the exchange, causing the market to crash.
The “1McUC” address also sent 10,000 bitcoins last summer for the first time in nine years, which caught the attention of OXT researcher Ergo BTC. Ergo confirmed that the 2,071.5 BTC transaction on Wednesday was related to the same address.
The reason for the sudden movement of the bitcoins is unclear. Some suspect Mt Gox’s ongoing rehabilitation, which includes cryptocurrency repayment, is related.
The deadline for choosing a repayment method and submitting payee information is April 6, 2023, therefore, it is unlikely that the transaction was official.
Others suggest it could be a sign of market manipulation or an attempt to evade legal action. The identity and motive of the sender remain unknown at this time.
Many observers, including Taisia and OXT researcher Ergo BTC, linked the 2,071.5 BTC transaction to the “1McUC” address. This address is linked to Mt Gox and its former owner Jed McCaleb.
Ergo pointed out that this was the “First activity in this wallet sequence since last summer. 4K [bitcoin] left,” and added that the bitcoins were sent to Kraken, a US-based cryptocurrency exchange.
Cryptopolitan confirmed the funds’ link to the “1McUC” address and Mt Gox using analysis tools.
