A wallet linked to Mt. Gox, a now-defunct cryptocurrency exchange, recently transferred 12,000 Bitcoin, valued at over $1 billion, to an unknown address. This transfer occurred as Bitcoin’s price rose to around $90,000.
Earlier, the same wallet moved 166,505 Bitcoin, worth about $15 million, to a cold wallet. These transactions ended a long period of inactivity, following a significant transfer of $172 million in Bitcoin last December. The wallet still holds more than 36,000 Bitcoin, which is worth around $3.3 billion at current prices.
Mt. Gox has pushed back its repayment deadline for creditors from October 31, 2024, to October 31, 2025. This extension is due to ongoing verification and processing needs for those making claims. While some creditors have received payments in cash, others are still waiting for their compensation in Bitcoin or Bitcoin Cash.
Historically, movements of Bitcoin from Mt. Gox have affected market sentiment. However, the recent transfers have not significantly impacted Bitcoin.
James Wilson
James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.
