worldcoinindex.com
Defunct cryptocurrency exchange Mt. Gox has moved approximately $739 million worth of bitcoin, marking its first major wallet activity in more than two months and drawing renewed attention from market participants awaiting creditor repayments.
According to blockchain data, the exchange transferred 10,306 $BTC—valued at roughly $730.8 million—from its cold storage holdings to an unidentified wallet during the early hours of Tuesday. At the same time, an additional 116.3 $BTC was sent to a Mt. Gox-controlled hot wallet.
A second round of transactions followed nearly two hours later, with another 116.3 $BTC transferred to a separate address. A small amount of bitcoin, worth just over $1, was also sent to a Bitstamp cold wallet as part of the activity.
The transferred funds have not yet been spent, according to on-chain records, leaving the purpose of the transactions unclear. However, previous large-scale wallet movements by Mt. Gox have often preceded distributions to creditors, leading to speculation that repayment-related activity could be underway.
The latest transfers represent the exchange’s first notable bitcoin movement since late March, when it conducted smaller internal wallet transactions. Despite the recent outflows, Mt. Gox still controls approximately 34,504 $BTC, valued at around $2.43 billion at current market prices.
Mt. Gox began reimbursing creditors in July 2024 through partner exchanges, including Kraken and Bitstamp. The rehabilitation process has faced multiple delays, with trustees extending the final repayment deadline to October 2026, the third postponement since the original target date of October 2023.
Once responsible for handling the majority of global bitcoin trading volume, Mt. Gox collapsed in 2014 after losing roughly 850,000 $BTC in one of the largest crypto hacks in history. More than a decade later, the exchange’s remaining bitcoin holdings continue to be closely watched by the market due to their potential impact on liquidity and investor sentiment.