Mt. Gox Moves Over $1.2B in Bitcoin in One of Its Largest Post-Bankruptcy Transfers
Key Takeaways:
- The defunct exchange transferred 12,000 BTC to a new wallet.
- This marks one of the most significant transactions since its 2014 collapse.
- Bitcoin was trading above $92,300 following the move.
Mt. Gox, the once-dominant cryptocurrency exchange, moved more than 12,000 bitcoin (BTC) worth approximately $1.2 billion to a new wallet on Thursday.
According to blockchain data, trustees transferred the assets from wallet “1PuQBjpPfAuANa3KM4HBdfF98BC7wnWhTb” to a cold storage address and then to a new wallet “1Mo1nW5ZM5m2tx9qMsYm2YJxGn3TeS9gR9.”
This transaction represents one of the largest movements of funds from Mt. Gox since its infamous 2014 bankruptcy. Large-scale wallet transfers like this are often a precursor to redistributions or potential sales on the open market.
At its peak, Mt. Gox was responsible for processing over 70% of all bitcoin transactions. However, the exchange collapsed in early 2014 after hackers stole an estimated 740,000 BTC, a sum that would be valued at more than $15 billion at today’s prices.
As part of ongoing creditor repayments, trustees have established a repayment deadline of October 31, 2025, according to recent filings.
Meanwhile, bitcoin surged to $92,300 in Asian trading hours, marking a 6.5% increase over the past day.
