Defunct Exchange Mt. Gox Transfers $1B in Bitcoin to Two Wallets

This marks the third major on-chain transfer of funds by the exchange in the past four weeks.

Key Points:

• Mt. Gox, the defunct Japanese cryptocurrency exchange, moved 893 BTC ($78.11M) to its hot wallet and 10,608 BTC ($927.48M) to a change wallet, according to Arkham Intelligence.

• This is the third major on-chain transfer in four weeks, following previous movements exceeding $900 million and $1 billion in BTC.

• Unlike last year, these transfers have not impacted Bitcoin’s spot price or triggered fears of creditor liquidations, as the creditor payout deadline has been extended to Oct. 31, 2025.

Defunct Japanese crypto exchange Mt. Gox made headlines early Tuesday by transferring large amounts of Bitcoin (BTC) to two wallets, according to on-chain data from Arkham Intelligence.

The exchange’s address moved 893 BTC ($78.11M) to its hot wallet (1Jbez) and 10,608 BTC ($927.48M) to a change wallet (1DcoA) during early Asian trading hours on Tuesday, when Bitcoin was trading above $87,000 in the spot market.

This marks Mt. Gox’s third major on-chain transfer in the past four weeks.

The exchange previously moved over $900 million in BTC on March 11 and over $1 billion in BTC on March 6. However, unlike earlier movements, the latest transfers have not affected Bitcoin’s spot price so far.

This is a stark contrast to mid-2023, when Mt. Gox’s Bitcoin transfers led to concerns about creditor sell-offs, causing market fluctuations.

In October 2023, the exchange pushed back its final creditor payout deadline by a year to Oct. 31, 2025, due to ongoing claimant verification and processing requirements.