Key Points
- Mt. Gox has moved around 42,830 BTC, valued at approximately $2.9 billion, for the first time in five years.
- The defunct exchange still retains about $9.42 billion worth of Bitcoin in its identified wallets.
Mt. Gox, a once dominant Bitcoin exchange that folded in 2014, has reportedly moved a significant amount of its assets.
Data from Arkham Intelligence indicates that the exchange transferred at least 42,830 BTC, equating to roughly $2.9 billion.
Transfers to an Unknown Address
These assets were moved in multiple transactions to an undisclosed address as of 11:00 am Hong Kong time on Tuesday.
This marks the first instance in half a decade where Mt. Gox has moved assets out of its cold wallets.
Despite this, Mt. Gox still possesses about $9.42 billion worth of Bitcoin in its identified wallets, as tracked by Arkham.
Delayed Repayment Deadline
In September 2023, the trustee of Mt. Gox announced a year-long extension to the repayment deadline, pushing it to October 31, 2024.
The trustee did not immediately respond to requests for comment.
Mt. Gox, a Tokyo-based platform launched in 2010, rose to prominence and became the largest Bitcoin exchange by 2013, handling 70% of all Bitcoin trades globally.
However, the platform halted all withdrawals in early 2014, suspending trading shortly after.
The site went offline soon after, and the company sought bankruptcy protection following the loss of over 800,000 bitcoins.
