Mt. Gox Shuffles $2.4B Bitcoin Between Wallets as BTC Hovers Near $82K: Arkham

As a researcher who has followed the tumultuous journey of Mt. Gox since its heyday, Monday’s news was like a déjà vu moment. The sight of 30,000 BTC being moved to a new wallet by the defunct exchange felt eerily reminiscent of the old days when it ruled the Bitcoin market.

On Monday, the defunct crypto exchange Mt. Gox transferred approximately $2.4 billion worth of bitcoin (BTC) to two digital wallets, according to data from Arkham. This action follows the largest cryptocurrency reaching unprecedented heights, surpassing $81,000 over the weekend.

30,000 Bitcoins were moved from the wallet address “1FG2C…Rveoy” to a new one labeled “1Fhod…LFRT”, and $200 million was deposited into a Mt. Gox cold wallet. Last week, “1FG2C…Rveoy” was identified as the primary recipient of Bitcoin in transactions from a Mt. Gox wallet.

Typically, these wallet transfers involve moving cryptocurrency assets to fresh addresses prior to their sale on cryptocurrency exchanges, where the Bitcoin is traded in the public marketplace.

Initially, Mt. Gox stood as the leading global cryptocurrency trading platform, managing over 70% of all Bitcoin transactions during its initial phase. However, in early 2014, it fell victim to a cyber attack, resulting in a loss of approximately 740,000 Bitcoins, which is equivalent to over $15 billion at present values. This hack was the most significant among several attacks that Mt. Gox experienced between the years 2010 and 2013.

According to the most recent documents, the trustees have outlined a repayment schedule that ends on October 31st, 2025.