Mt. Gox-linked cold wallet transferred over $2 billion in Bitcoin to two addresses, potentially signaling upcoming creditor repayments. The recent wallet activity, involving 30,371 BTC, follows a month-long pause, with Mt. Gox still holding 44,378 BTC.
On Sunday, the defunct crypto exchange Mt. Gox transferred more than $2 billion in bitcoin to two addresses, potentially indicating the commencement of the subsequent round of creditor repayments.
Mt. Gox Cold Wallet Transfers $2B in Bitcoin
According to Arkham Intelligence data, at 11:39 p.m. on Sunday, UTC, a wallet labeled “1FG2C…Rveoy” transferred approximately 27,871 BTC ($2.24 billion) to a new wallet named “1Fhod…QLFRT” and 2,500 BTC ($200 million) to Mt. Gox’s cold wallet. Six days ago, the sender’s wallet received a total of 30,371 BTC from Mt. Gox.
After a hiatus of more than a month, the recent series of movements in Mt. Gox’s remaining bitcoin commenced at the end of October.
Although it is uncertain whether Monday’s transfer is a component of Mt. Gox’s future distributions to creditors, such movements have historically preceded repayments through centralized exchanges such as Kraken and Bitstamp. Arkham data indicates that Mt. Gox currently maintains 44,378 bitcoin.
Until 2014, when the platform experienced a significant security compromise that resulted in the loss of at least 850,000 BTC, Mt. Gox was the largest bitcoin exchange in the world, having been established in 2010.
This process has been ongoing for the past few months, as thousands of creditors have been anticipating the return of their bitcoin.
The repayment deadline of the defunct exchange was postponed from Oct. 31, 2024, to Oct. 31, 2025, last month.
