Key Takeaways
- Mt. Gox transferred $35 million in Bitcoin to unknown wallets.
- The exchange still holds around $3.1 billion worth of Bitcoin.
- Repayment to Mt. Gox creditors is delayed until October 2025.
On November 1, Mt. Gox, the now-defunct Bitcoin exchange, transferred 500 BTC, worth approximately $35 million, from its cold storage to two unknown addresses.
Two transactions
Blockchain data from intelligence platform Arkham revealed that this latest movement included two transactions, one with 31.78 BTC and the other with 468.24 BTC.
This marks the first major transfer from Mt. Gox-associated wallets in about a month.
44,905 BTC remains
Arkham data shows that Mt. Gox wallets still contain 44,905 BTC, valued at around $3.1 billion.
The exchange’s last large transfer occurred on August 20, involving 12,000 BTC (about $700 million) to a new address.
This activity followed an October announcement by Mt. Gox postponing the repayment deadline to creditors by another year, setting a new deadline for October 31, 2025.
Creditor delays
The trustee managing Mt. Gox assets cited incomplete repayment procedures from creditors and system issues, leading to some double deposits.
This extended the repayment deadline as the trustee requested that any overpaid funds be returned.
As one of the earliest Bitcoin exchanges, Mt. Gox once processed 70% of global BTC transactions before its 2014 collapse due to security breaches. Current movements from Mt. Gox wallets are under close watch due to potential impacts on Bitcoin’s market.
