Defunct Exchange Mt. Gox Moves $1B in Bitcoin to Two Wallets
This is the third significant on-chain movement of funds by the exchange in four weeks.
Defunct Japanese crypto exchange Mt. Gox made waves early Tuesday, moving large amounts of bitcoin (BTC) to two wallets, according to on-chain data tracking platform Arkham Intelligence.
The address associated with the exchange transferred 893 BTC ($78.11M) to its hot wallet, labelled 1Jbez and 10,608 BTC ($927.48M) to a change wallet identified as 1DcoA during Tuesday's early Asian trading hours when the cryptocurrency traded above $87,000 in the spot market.
The latest action is the exchange's third significant on-chain movement of funds in four weeks.
The exchange moved over $900 million in BTC on March 11 and over $1 billion in BTC on March 6. However, the latest coin shuffling has not impacted the spot price so far, as seen early this month.
That's in stark contrast to mid-last year, when Mt. Gox's transfer of coins spurred fears of creditor liquidations, causing price volatility.
However, last October, the exchange extended its complete creditor payout deadline by a full year to Oct. 31, 2025, citing ongoing verification and processing requirements for claimants.
