Mt. Gox moves $956 million worth of bitcoin to unmarked wallet address: Arkham
Quick Take
- Mt. Gox moved 10,608 BTC late Monday night across two wallet addresses, including one unmarked address.
- While the motive and the recipient of the bitcoin transfers remain unclear, such transactions have typically preceded repayments from the defunct exchange.
Defunct crypto exchange Mt. Gox moved 10,608 BTC, worth roughly $956 million, to an unmarked wallet address late night Monday, according to Arkham Intelligence data.
At around 11:40 p.m. ET, Mt. Gox transferred the bitcoin to two addresses. Around 10,422 BTC was sent to unmarked address "1ANkD…ojwyt," while roughly 185.5 BTC went to its own hot wallet, Arkham data shows.
Bitcoin movements in the past have typically preceded repayments from Mt. Gox to creditors that lost money in the bankrupt exchange. Still, it is unclear whether Monday's move was part of any future distribution to creditors.
Launched in 2010, the Tokyo-based exchange was once the largest bitcoin exchange, servicing 70% of all bitcoin trades worldwide in 2013. However, it suffered a hack in early 2014 and lost around 850,000 BTC, which led the company to file for bankruptcy protection.
Mt. Gox started repaying its creditors in July 2024 from its holdings of 142,000 BTC ($11 billion), 143,000 Bitcoin Cash ($47 million) and 69 billion Japanese yen ($469 million).
On Oct. 27, Mt. Gox's rehabilitation trustee announced that it is pushing back the creditor repayment deadline by another year to October 2026, marking a third delay from its original deadline of Oct. 31, 2023. Some creditors have received repayments via Kraken and Bitstamp exchange.
The bankrupt exchange still holds 34,689 BTC (worth $3.1 billion) across its wallets, according to Arkham.
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