In a noteworthy development, the once-dominant cryptocurrency exchange Mt. Gox has transferred over $1 billion in Bitcoin to an unmarked wallet, signaling a significant shift in its long-running bankruptcy saga.
According to Arkham Intelligence, the transaction occurred at 3:17 UTC on Thursday, involving the transfer of approximately 11,834 BTC, valued at around $1.08 billion, from Mt. Gox’s “1PuQB” wallet to a mysterious address, “1Mo1…9gR9.” This move represents the first large-scale transfer from Mt. Gox since late January.
Minutes after this substantial transaction, Mt. Gox followed up with another transfer, sending 166.5 BTC, worth $15.12 million, to its cold wallet, “1Jbez.”
Mt. Gox, launched in 2010, rapidly grew to become the largest Bitcoin exchange by 2013, controlling around 70% of all Bitcoin transactions globally. However, its collapse in 2014 shocked the crypto community after a massive hack resulted in the loss of over 800,000 BTC. The exchange ceased operations and filed for bankruptcy shortly thereafter.
Following years of uncertainty, Mt. Gox creditors have been anxiously awaiting repayment. In October 2024, the exchange announced that the compensation process would be delayed further, with the new repayment date set for October 31, 2025.
This latest transfer adds another twist to the ongoing saga of Mt. Gox, one of the most significant chapters in the history of cryptocurrency.
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