Mt. Gox Moves $1 Billion in Bitcoin as Part of Ongoing Fund Transfers
Defunct Japanese crypto exchange Mt. Gox has executed another major on-chain Bitcoin (BTC) transfer, marking its third significant fund movement in the past month.
According to blockchain tracking platform Arkham Intelligence, Mt. Gox shifted 11,501 BTC early Tuesday. This included 893 BTC ($78.11 million) sent to a hot wallet labeled 1Jbez, while 10,608 BTC ($927.48 million) was moved to a change wallet identified as 1DcoA. The transfers took place during early Asian trading hours, with Bitcoin trading above $87,000.
This latest transaction follows similar movements on March 6 and March 11, when the exchange transferred over $1 billion and $900 million worth of BTC, respectively. Despite the substantial transfers, Bitcoin’s spot price has remained unaffected—unlike mid-2024, when fears of creditor liquidations triggered market volatility.
Once the world’s largest crypto exchange before its collapse in 2014, Mt. Gox continues working through its repayment process. In October 2024, it extended its final creditor payout deadline to October 31, 2025, citing ongoing verification and processing requirements.
