The bankrupt cryptocurrency exchange Mt. Gox has moved 12,000 Bitcoin, worth over $1 billion, to an unidentified wallet address, according to data from Arkham Intelligence. This marks the first significant transaction from Mt. Gox in a month, amidst a period of high market volatility.
The move involved transferring 11,834 BTC to the new address, while 166.5 BTC was sent to Mt. Gox’s cold wallet. The transaction cost $1.64 in fees.
Mt. Gox, which fell into bankruptcy in 2014 after losing over 800,000 BTC, is in the process of repaying creditors, with the deadline for repayments now set for October 31, 2025.
The recent transaction has occurred during a volatile week for the crypto market, which has seen significant price fluctuations. Bitcoin has seesawed between a high of $94,770 on March 3 to a low of $82,681 on March 4 before returning to reclaim $90,000 on March 5.
The asset was trading at $90,162 at the time of writing, having gained around 4% over the past 24 hours, according to CoinGecko.
It is unclear what this latest transaction was for. However, some past movements of Mt. Gox’s Bitcoin holdings have been followed by creditor payouts, which began in 2024.
The move comes amid a week of high volatility for crypto markets, which have reacted to US President Donald Trump’s trade tariffs, which came into effect on March 4, rattling high-risk assets.
The Mt. Gox bankruptcy is one of the most high-profile cases in the history of cryptocurrency. The exchange was once the largest Bitcoin exchange in the world, handling over 70% of all Bitcoin transactions. However, it collapsed in 2014 after losing hundreds of thousands of Bitcoins.
The bankruptcy has been a long and complex process, but creditors are finally starting to receive their repayments. The recent transaction is a sign that the process is moving forward.
Shogun Lin
