Bankrupt Mt.Gox Moves $1.01 Billion in Bitcoin
On March 25, the bankrupt Mt. Gox exchange transferred 11,501 BTC, valued at about $1.01 billion. This is the third major transaction this month. Blockchain analytics firm Arkham Intelligence spotted the fund movement.The transfer included 893 BTC ($78 million) to a new address adn 10,608 BTC ($929 million) to another wallet it controls. A tiny amount, 0.000017 BTC, was sent to Kraken, likely as a test.
Arkham Intelligence noted the activity. The exchange also sent 893 BTC to a new address. Manny believe this is linked to upcoming creditor repayments.
Earlier this month, Mt. Gox moved 12,000 BTC on March 6 and 11,833 BTC on March 11.Some of these funds ended up on the Bitstamp exchange, according to Spot On Chain.
Once the world’s largest Bitcoin exchange,Mt. Gox declared bankruptcy in 2014 after losing 850,000 BTC, then worth $500 million.
As of March 25, Mt.Gox holds about 35,000 BTC, worth roughly $3.08 billion. The exchange extended its repayment deadline to October 31, 2025, due to verification delays.
Historically, large Bitcoin transfers from entities like Mt. Gox have triggered market fluctuations. However, recent movements have had less impact on Bitcoin’s price. the cryptocurrency is trading at around $86,500, showing a strong recovery from its recent 7-day low of $81,259.
