Japan-based cryptocurrency exchange Mt. Gox, which has been declared bankrupt, has transferred over $1 billion worth of Bitcoin (BTC) 
$76,042. According to data from Arkham Intelligence, the exchange sent 11,834 BTC to an unknown wallet address today, marking one of the largest Bitcoin transfers since January.
Massive Bitcoin Transfer to a Single Wallet Address
The transfer involved moving 11,834 BTC from the Mt. Gox wallet address “1PuQB” to the address “1Mo1…9gR9”. This transaction was valued at approximately $1.07 billion. Arkham Intelligence reported that the transfer occurred on March 7 at 03:17.
Shortly after the initial transfer, 166.5 BTC were also moved from another Mt. Gox wallet to a cold wallet address named “1Jbez”. This amount is estimated to be worth about $15.12 million.
There has been no official statement regarding the reasons for these transfers, raising concerns among the community.
Victims of Mt. Gox Await Resolution
For those unfamiliar, Mt. Gox was established in 2010 and became the world’s largest Bitcoin exchange by 2013. However, it halted operations in 2014 after losing over 800,000 BTC. The exchange filed for bankruptcy in the same year and has yet to fully repay its users due to ongoing legal proceedings.
In October 2024, Mt. Gox announced that compensation payments would be delayed for at least another year, setting a new deadline for October 31, 2025.
