Defunct Crypto Exchange Mt. Gox Relocates $1 Billion in Bitcoin.

Mt. Gox Shifts Over $1 Billion in Bitcoin in Third Major Transfer This Month

Mt. Gox, the collapsed Japanese crypto exchange, has moved a significant amount of bitcoin (BTC) once again, marking its third major fund transfer in four weeks.

Blockchain analytics firm Arkham Intelligence reported that early Tuesday, Mt. Gox transferred 11,501 BTC across two wallets. 893 BTC ($78.11 million) was sent to a hot wallet labeled 1Jbez, while 10,608 BTC ($927.48 million) was moved to a change wallet identified as 1DcoA. These transactions occurred during early Asian trading hours when Bitcoin’s spot price was above $87,000.

This is the latest in a series of large-scale transfers by Mt. Gox, following movements of over $1 billion in BTC on March 6 and more than $900 million on March 11. Despite the sizable transactions, Bitcoin’s market price has remained stable, unlike mid-2024 when similar fund movements sparked fears of creditor liquidations and market turbulence.

The long-defunct exchange, which suffered a catastrophic hack in 2014, continues its lengthy repayment process. In October 2024, Mt. Gox announced an extension of its final creditor payout deadline to October 31, 2025, citing the need for additional verification and processing.

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