Mt. Gox Moves $1.2B in Bitcoin, Sparking Market Speculation

Key Takeaways:

• Over 12,000 BTC moved to a new wallet in a rare post-bankruptcy transfer.
• The transaction is among Mt. Gox’s largest fund movements since 2014.
• Bitcoin climbed 6.5% to $92,300 following the news.

Defunct crypto exchange Mt. Gox has transferred over 12,000 BTC—worth approximately $1.2 billion—to a new wallet, marking one of its most significant transactions since filing for bankruptcy in 2014.

Blockchain records reveal the funds were first moved from wallet “1PuQBjpPfAuANa3KM4HBdfF98BC7wnWhTb” to a cold storage wallet before being consolidated in wallet “1Mo1nW5ZM5m2tx9qMsYm2YJxGn3TeS9gR9.”

Historically, such wallet activity often precedes redistribution or potential liquidation, fueling speculation over a possible BTC sell-off.

Mt. Gox was once the dominant crypto exchange, processing over 70% of all bitcoin trades before a devastating 740,000 BTC hack in 2014—now valued at over $15 billion.

As creditors await repayment, trustees have set an October 31, 2025 deadline for fund distribution, according to the latest filings.

Despite the uncertainty, bitcoin surged past $92,300, gaining 6.5% in the last 24 hours.