TLDR
- Mt. Gox transferred 10,608 BTC worth $950 million to a new wallet address on Monday night
- The exchange still holds approximately 34,689 BTC valued at $3.1 billion across multiple wallets
- The transfer occurred as Bitcoin prices dropped below $90,000
- Such large movements from Mt. Gox wallets typically precede creditor repayments
- Mt. Gox collapsed in 2014 after losing 850,000 BTC in a hack, with repayment deadline set for 2026
The defunct Mt. Gox exchange moved 10,608 Bitcoin worth approximately $950 million to a new wallet address on Monday night. The transfer happened at 11:40 p.m. ET according to blockchain analytics firm Arkham Intelligence.
The bulk of the transfer, about 10,422 BTC, went to an unidentified address labeled “1ANkD…ojwyt.” A smaller amount of 185.5 BTC was sent back to Mt. Gox’s own hot wallet.
The timing of this transfer coincides with Bitcoin’s price falling below $90,000. The cryptocurrency market has been experiencing a broader downtrend in recent days.
Large Bitcoin movements from Mt. Gox wallets have historically preceded repayments to creditors. These creditors lost their funds when the exchange collapsed in 2014.
Background on Mt. Gox Collapse
Mt. Gox was once the world’s largest Bitcoin exchange before it filed for bankruptcy. The exchange lost approximately 850,000 BTC in a hack that occurred in early 2014.
The company began repayment efforts to creditors last year. The deadline for claimants to receive their funds has been set for 2026.
It remains unclear whether Monday’s transfer is directly connected to creditor reimbursements. The exchange has not made any official announcements about the movement.
Market participants often watch Mt. Gox wallet movements closely. Large transfers can create speculation about potential selling pressure from creditors receiving repayments.
Current Mt. Gox Holdings
Mt. Gox still controls substantial Bitcoin holdings despite Monday’s transfer. The exchange retains about 34,689 BTC across various wallets according to Arkham data.
These remaining holdings are valued at nearly $3.1 billion at current market prices. The funds are spread across multiple wallet addresses for security purposes.
The exchange has been gradually distributing Bitcoin to creditors over the past year. Each transfer is closely monitored by blockchain analytics firms and market observers.
The movement of funds from Mt. Gox wallets often generates discussion about market impact. Creditors who receive repayments may choose to sell their Bitcoin immediately.
Monday’s transfer represents one of the larger single movements from Mt. Gox wallets in recent months. The $950 million value makes it a substantial transaction even by cryptocurrency standards.
The transfer was completed in a single blockchain transaction late Monday night. The funds moved to the new address within minutes of being sent from the Mt. Gox wallet
The post Mt. Gox Transfers $950 Million Bitcoin to Unknown Wallet Address appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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