According to data provided by analytics platform Lookonchain, Mt. Gox transferred roughly 11,834 Bitcoins.
The vast majority of these coins (11,502 BTC) were transferred to a new wallet, while the rest of them were sent to a warm wallet.
This is not the first transfer recorded by Mt. Gox this month. On March 6, Lookonchain reported a transfer of $1.07 billion to a new wallet. This was followed up by a smaller transfer of $15 million.
Notably, the recent transfers come amid a severe cryptocurrency market crash. Bitcoin plunged to the $76,000 level, while Ethereum (ETH) collapsed below the $1,800 level, reaching the lowest level since October 2023.
The exchange, which went bankrupt back in 2014, started repaying customers last July. Despite some concerns about selling pressure, Mt. Gox's creditors did not cause a major market correction.
The final repayment deadline has now been moved to Oct. 31. The postponement, which was announced in late 2024, alleviated concerns about imminent selling pressure.
However, the transfers associated with the ill-famed exchange continue to attract substantial attention within the crypto community. "Mt. Gox always finds a way to keep the market nervous," an X user commented in response
Yuri MolchanThe notorious trading platform was handling close to 70% of the global Bitcoin trading volume before its collapse.
Dan Burgin
Vladislav Sopov