Mt. Gox, the defunct crypto exchange that collapsed a decade ago, has once again stirred the market with a massive Bitcoin transfer. According to Arkham Intelligence, the exchange moved 12,000 BTC on March 6, with an astonishingly low transaction fee of just $1.64. The move has reignited speculation over the fate of the billions in Bitcoin still tied to Mt. Gox.
Where Did the Bitcoin Go?
Alongside the primary transfer, an additional 166.5 BTC (approximately $15 million) was sent to a known Mt. Gox cold wallet (1Jbez). However, the bulk—11,834 BTC—was directed to an unknown wallet (1Mo1n), raising concerns and curiosity among investors.
ARKHAM ALERT: MT GOX MOVING $1B $BTC pic.twitter.com/VpIkHdJQkl
— Arkham (@arkham) March 6, 2025
Mt. Gox-linked wallets currently hold 36,080 BTC, valued at roughly $3.26 billion. This marks the first major Bitcoin movement from these wallets in a month. The last transaction involved a mere 4 BTC between cold wallets. While the purpose of this latest transfer remains unclear, previous transactions suggest Mt. Gox’s administrators may be preparing for repayments or further liquidation. In December, the exchange moved 1,620 BTC through unidentified wallets, following a much larger 24,000 BTC transfer just weeks earlier.
Bitcoin’s Price Swings Amid Market Uncertainty
This substantial Bitcoin movement coincides with heightened market volatility. The introduction of new U.S. trade tariffs under President Donald Trump has sent shockwaves through global markets, impacting high-risk assets like cryptocurrencies. Bitcoin experienced wild price fluctuations, surging to $94,770 on March 3 before plummeting to $82,681 on March 4, only to rebound above $90,000 on March 5.
Creditors Still Await Repayment
Once the largest Bitcoin exchange, Mt. Gox handled 70% of all BTC transactions before its sudden shutdown in 2014, which left 800,000 BTC unaccounted for. A decade later, creditors are still waiting for their funds. In October 2024, Mt. Gox pushed its repayment deadline to October 31, 2025, further delaying hopes for long-awaited restitution.
Also Read: Mt. Gox Moves 1,620 Bitcoin as BTC Eyes $108K – What Does It Mean for BTC and Creditors?
With billions in Bitcoin still locked away, the crypto community remains on high alert, watching every move from Mt. Gox-linked wallets for clues about what comes next.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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