Bitcoin · Japan · Strategy · Cointelegraph
Mt. Gox moves $739 million in Bitcoin from cold wallets: Arkham
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Mt. Gox moved $739 million in Bitcoin for the first time since March, raising speculation about imminent creditor distributions.
Key facts
- Blockchain data shows the exchange transferred 10,306 Bitcoin (BTC), worth approximately $730.8 million, from its cold wallet to an unmarked address at 4:47 am UTC
- In the broader market, Bitcoin slipped below $70,000 after Strategy disclosed it had sold 32 BTC for $2.5 million, its first reported Bitcoin sale since a 2022 tax-loss transaction, to fund
- Mt. Gox still holds 34,504 BTC worth roughly $2.41 billion across its wallets, according to Arkham data
- The exchange also made a separate transfer of 116.3 BTC, worth around $8.25 million, to its hot wallet at the same time, which is marked as “spent
Summary
Mt. Defunct Japanese crypto exchange Mt. Gox moved roughly $739 million worth of Bitcoin from its cold wallets early Tuesday, its first onchain movement in over two months, according to Arkham Intelligence data. Blockchain data shows the exchange transferred 10,306 Bitcoin (BTC), worth approximately $730.8 million, from its cold wallet to an unmarked address at 4:47 am UTC. The transferred Bitcoin being marked “unspent” means the funds are sitting in the new address and have not yet been sent anywhere further. The large movement has raised questions about whether creditor distributions are imminent, which could weigh on markets, as creditors who have waited over a decade to recover their funds may choose to sell once they receive their Bitcoin.