Mt. Gox moves 24,000 BTC following Bitcoin’s $100K milestone

As Bitcoin broke the coveted $100,000 mark, defunct crypto exchange Mt. Gox moved cryptocurrency worth approximately $2.47 billion to an unknown wallet.

According to Arkham Intelligence, a Mt. Gox wallet transferred over 24,000 BTC starting with “1N7j” at 02:45 UTC on December 5 to an unknown wallet where the funds currently remain.

Mt. While the exact reason for moving $2 billion worth of BTC from the Gox wallet remains unclear, similar transactions in the past were soon followed by payments to creditors. As of now, it is unclear whether the defunct exchange transferred the funds to a crypto platform or reallocated them to their own wallets.

This move, Mt. Gox’s creditors have raised concerns about the potential sale, especially since $100,000 is seen as a lucrative target. Interestingly, Bitcoin price did not react to this move and was hovering just above $103,000 after reaching a new all-time high of $103,679 hours ago.

However, Mt. It is also worth noting that Gox trustees extended the payment deadline until October 31, 2025, because some creditors still need to complete the necessary procedures or have faced various problems, although many of them have received primary and early payments.

Today’s move is the first transfer since November 12, when approximately 2.3 thousand Bitcoins worth $205 million were transferred to another unidentified wallet. These funds also remain stable.

As of the time of writing, Mt. Gox still holds more than 39,000 Bitcoins, worth approximately $4.12 billion at current prices.

Mt., once the largest Bitcoin exchange. Gox lost approximately 850,000 BTC, worth $450 million at the time, as a result of theft from their hot wallet. The exchange subsequently ceased trading, shut down its website and filed for bankruptcy in 2014.