Mt. Gox Transfers Over $1 Billion in Bitcoin in Latest Fund Movement

Defunct Japanese crypto exchange Mt. Gox has once again moved a substantial amount of bitcoin (BTC) on-chain, marking its third significant transaction in four weeks.

On-chain tracking platform Arkham Intelligence reported that early Tuesday, the exchange 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 took place during early Asian trading hours when Bitcoin was priced above $87,000.

Mt. Gox has been actively moving funds in recent weeks, with previous transfers of over $1 billion in BTC on March 6 and another $900 million on March 11. Despite the scale of these movements, Bitcoin’s market price has remained unaffected, unlike in mid-2024 when concerns over creditor liquidations triggered volatility.

The exchange, which collapsed in 2014 following a major security breach, continues to process repayments to creditors. In October 2024, Mt. Gox extended its final repayment deadline to October 31, 2025, citing the need for further verification and processing of claims.