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Mt. Gox moves US$2.2 billion from its Bitcoin wallets
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Mt. Gox transferred approximately $2.2 billion worth of Bitcoin (BTC) to unmarked wallet addresses, according to data from blockchain analytics firm Arkham. This transfer took place last Monday (04).
According to Arkham, the exchange made its largest transfer in recent months, sending the money to two separate wallets. Meanwhile, the platform remains within the deadline to issue refunds to its customers, extended until October 2025.
According to Arkham data, Mt. Gox transferred around 30,371 BTC to a wallet identified as “1FG2C…Rveoy”. The company then moved another 2,000 BTC to a wallet labeled “1Jbez…LAPs6”.
The transfer also included an internal movement of 2,000 BTC from one of Mt. Gox’s cold wallets to another, indicating an asset reorganization. However, the two previous submissions left many people in doubt about the purpose of the transactions.
Mt. Gox transfers Bitcoins to unknown wallets
This transaction follows a smaller transfer last week when Mt. Gox moved 500 BTC to two other unidentified wallets. The latest activity marks Mt. Gox’s first major move since late September.
The substantial transfer comes as Mt. Gox announced a delay in the deadline for repayment to creditors. Initially set for October 31, 2024, the deadline was extended by one year, now set for October 31, 2025.
The postponement, approved by a Japanese court, allows the Mt. Gox Rehabilitation Trustee additional time to organize refunds to creditors who lost funds during the platform’s collapse in 2014. But some people claimed to have already received refunds from the exchange.
This extension provided temporary relief to some investors who were concerned about the impact of large-scale refunds on the price of Bitcoin. Analysts note that previous announcements about the cryptocurrency exchange’s refund plans have often triggered market fluctuations due to fears of mass sales.
News of the recent transfer of Bitcoin from the cryptocurrency exchange has generated mixed reactions among market participants. Some investors remain cautious, fearing that the distribution of funds to creditors could trigger a wave of selling pressure if creditors choose to liquidate their holdings.
Concerns about a possible market impact have been especially prevalent as Bitcoin and other cryptocurrencies have experienced volatility in recent weeks. However, BTC still remains relatively stable awaiting the results of the US elections.
Mt. Gox moves US$2.2 billion from its Bitcoin wallets
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Mt. Gox moves US$2.2 billion from its Bitcoin wallets
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Mt. Gox moves US$2.2 billion from its Bitcoin wallets
