The bankrupt crypto exchange Mt. Gox has made a significant move by moving more than one billion dollars worth of Bitcoin to an unknown wallet.
According to Arkham Intelligence, the transaction took place at 3:17 UTC on Thursday, when Mt. Gox transferred around 11,834 BTC (worth about $1.08 billion) from its “1PuQB” wallet to a mysterious address, “1Mo1…9gR9.”
This marks the first major transaction from Mt. Gox since late January, and it was followed by another significant transfer. Just minutes after the $1.08 billion move, the exchange sent 166.5 BTC (worth $15.12 million) to its cold wallet, “1Jbez.”
Mt. Gox was started in 2010 and by 2013, it became the largest Bitcoin exchange in the world controlling 70% of all Bitcoin transactions. However, its collapse was realized in early 2014 when the exchange stopped withdrawal of funds after being attacked and losing over 800, 000 BTC. It closed shortly after and declared bankruptcy.
For years, many creditors have been patiently waiting to get their money back, and in October 2024 Mt. Gox declared that repayments are going to be delayed. The new date to return the lost Bitcoin is set to be October 31, 2025.
This latest transfer is another twist in the long and chequered history of Mt. Gox in the world of cryptocurrency.
Also Read: Traders Lose $260M in Liquidation As Bitcoin Price Dips Below $87K
