Mt. Gox, the infamous defunct crypto exchange, sent shockwaves through the market early Thursday, transferring $2.8 billion in Bitcoin to an unknown wallet as BTC continued its historic climb past $100,000.

The transaction, flagged by Arkham Intelligence, showed that a Mt. Gox-linked address (1FHOD) moved 27,871 BTC to a new address (1N7jWmv63mkMdsYzbNUVHbEYDQfcq1u8Yp). Even after this significant transfer, the address still holds approximately 39,878 BTC, valued at over $4 billion.

This movement follows a smaller 2,500 BTC transfer earlier in November and is likely part of the ongoing creditor repayment process. Initially expected this year, these payouts were delayed in October, with the trustee extending the deadline to October 31, 2025.

Despite concerns over potential selling pressure from such large transfers, Bitcoin remains resilient, trading steadily above $103,000, according to CoinDesk data. This underscores the market’s confidence amid heightened institutional and retail interest.