The long-defunct crypto exchange Mt. Gox has transferred 12,000 BTC, worth over $1 billion, to an unknown wallet, raising speculation about potential creditor payouts or internal restructuring.
Mt. Gox Shifts 12,000 BTC in a Single Transaction
On March 6, blockchain intelligence platform Arkham Intelligence reported that a Mt. Gox-linked wallet (1PuQB) had transferred 12,000 BTC. The transaction, which cost just $1.64 in fees, was split between different wallets:
- 166.5 BTC (~$15 million) was sent to a Mt. Gox cold wallet (1Jbez).
- 11,834 BTC was moved to an unidentified wallet (1Mo1n), now holding the transferred funds.
Currently, Mt. Gox-linked entities control 36,080 BTC, valued at approximately $3.26 billion, according to Arkham data.
This marks the first Bitcoin movement from Mt. Gox-linked wallets in a month. The last transaction involved the transfer of just 4 BTC between cold wallets, making this recent move significantly larger.
Past Transactions and Creditor Payouts
Mt. Gox has previously made substantial Bitcoin transfers. In December, the exchange shuffled 1,620 BTC across various wallets, just two weeks after moving over 24,000 BTC.
Since its collapse in 2014, the exchange has occasionally transferred Bitcoin, often preceding creditor payouts. The repayment process officially began in 2024, though in October, the trustee in charge extended the deadline for creditor repayments to October 31, 2025.
Market Volatility and Bitcoin Price Swings
The timing of this transfer coincides with a volatile week for crypto markets. Bitcoin’s price has fluctuated sharply, influenced in part by U.S. President Donald Trump’s trade tariffs, which took effect on March 4.
- March 3: Bitcoin hit a high of $94,770.
- March 4: The price dropped to a low of $82,681.
- March 5: BTC rebounded, reclaiming $90,000.
At the time of writing, Bitcoin was trading at $90,162, up 4% over the past 24 hours, according to CryptoMeter.io.
