Mt. Gox Moves Large Amounts of Bitcoin After a Long Period of Silence

A notable move has just occurred as Mt. Gox, the long-bankrupt exchange, transferred a massive amount of Bitcoin valued at approximately $2.2 billion on the night of November 4.

According to data from the on-chain analytics platform Arkham, this Bitcoin amount was split into two parts and transferred to two anonymous wallets. The majority, totaling 30,371 BTC, was sent to the wallet labeled “1FG2C…Rveoy,” while the remaining 2,000 BTC was transferred to the cold wallet “1Jbez…LAPs6” before being moved to wallet “15gNR…a8Aok.”

This marks Mt. Gox’s first major transaction in months, occurring just days after a previous transfer of 500 BTC into two unknown wallets. Prior to this, the last time Mt. Gox made a significant transaction was at the end of September.

The purpose of these transfers remains unclear — could it be part of a plan to reimburse creditors who lost funds on the exchange? In the past, similar moves have often signaled repayment distributions via major exchanges like Bitstamp and Kraken.

Currently, Mt. Gox is still holding 44,378 BTC, equivalent to around $3 billion, in its wallets.

Related: Mt. Gox Continues Bitcoin Transfer, This Time Amounting to $3.13 Billion

It’s worth noting that Mt. Gox recently announced a one-year extension to its repayment plan, pushing the deadline to October 31, 2025. Founded in 2010, Mt. Gox was once the world’s leading Bitcoin exchange until a severe security breach in 2014 resulted in the loss of at least 850,000 BTC. Since then, thousands of creditors have been patiently awaiting the chance to recover their Bitcoin.

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