Mt. Gox Moves $956 Million Worth of Bitcoin Amid Price Downtrend
On Monday at 11:40 p.m. ET, Mt. Gox moved approximately 10,608 BTC, valued around $950 million, to a new wallet. Data provided by Arkham Intelligence confirmed the details of the transfer. Of these funds, about 10,422 BTC were sent to an unidentified address labeled “1ANkD...ojwyt,” while roughly 185.5 BTC were returned to Mt. Gox’s hot wallet.
Mt. Gox currently holds about 34,689 BTC worth approximately $3.1 billion across various wallets. The movement of such a large amount of Bitcoin often precedes repayments to creditors who lost funds during the 2014 hack, although no direct link has been established yet to any repayments.
The transfer comes amid a Bitcoin price downtrend, with prices hovering near seven-month lows around $90,000. Mt. Gox suffered a major hack in 2014 resulting in a loss of about 850,000 BTC and filed for bankruptcy. Efforts to repay creditors began last year.
