Key Takeaways:
- Mt. Gox trustees transferred over 30,000 BTC (worth $2.4 billion) between wallets as Bitcoin’s price surged near $82,000.
- This transfer included 30,000 BTC to a new wallet and an additional $200 million to a Mt. Gox cold wallet.
- Such asset movements often precede market activity and come as the trustees work toward the 2025 repayment deadline for Mt. Gox creditors.
On November 11, 2024, trustees of the defunct Mt. Gox cryptocurrency exchange moved over 30,000 BTC (around $2.4 billion) between two wallets as Bitcoin’s price neared $82,000.
Data from Arkham showed the transfer from wallet “1FG2C…Rveoy” to “1Fhod…LFRT”, with an additional $200 million sent to a Mt. Gox cold wallet.
📢JUST IN: NEW ADDRESS 1FG2Cv…XRveoy THAT RECEIVED 30,371 $BTC FROM MT. GOX 6 DAYS AGO TRANSFERS 27,781 BTC (~ $2.24B) TO A NEW ADDRESS TODAY; 2,500 BTC (~ $201 MILLION) IS TRANSFERRED BACK TO THE MT. GOX COLD WALLET ~ ARKHAM INTELLIGENCE
— BSCN Headlines (@BSCNheadlines) November 11, 2024
This follows similar movements by the same wallet last week and suggests potential asset consolidation, a step exchanges often take before selling holdings.
Mt. Gox, once handling 70% of all Bitcoin transactions, was hacked in 2014, resulting in the loss of 740,000 BTC.
Trustees are working on a court-approved plan to repay creditors, with a deadline set for October 31, 2025.
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