Mt. Gox Shifts $1B Worth of BTC to a New Address

Mt. Gox Shifts $1.2B in Bitcoin to New Wallet in Major Post-Bankruptcy Move

Key Points:

• 12,000 BTC was transferred to a new wallet, marking a significant transaction.
• This is one of the largest fund movements since Mt. Gox’s 2014 collapse.
• Bitcoin price surged past $92,300 following the transaction.

Mt. Gox, the once-dominant but now-defunct cryptocurrency exchange, executed a major transfer of over 12,000 BTC (valued at $1.2 billion) on Thursday, sending funds to a newly created wallet.

Blockchain data shows that trustees moved the assets from wallet “1PuQBjpPfAuANa3KM4HBdfF98BC7wnWhTb” to a cold storage address before relocating them to wallet “1Mo1nW5ZM5m2tx9qMsYm2YJxGn3TeS9gR9.”

This movement represents one of the largest transfers from Mt. Gox since its bankruptcy in 2014. Typically, such transactions precede fund redistributions or potential sales on the open market.

Once the world’s leading crypto exchange, Mt. Gox handled over 70% of all bitcoin transactions before its sudden collapse in 2014. A devastating hack led to the loss of 740,000 BTC, now worth over $15 billion.

Creditors have been awaiting compensation for years, with trustees setting an official repayment deadline of October 31, 2025, as per recent filings.

Following the transaction, bitcoin surged past $92,300, gaining 6.5% in 24 hours.