Mt. Gox Shuffles $2.4B Bitcoin Between Wallets as BTC Hovers Near $82K: Arkham

Election 2024 coverage presented by
Defunct crypto exchange Mt. Gox moved $2.4 billion in bitcoin (BTC) to two wallets on Monday, Arkham data shows. The move comes as the largest cryptocurrency keeps breaking new grounds, crossing $81,000 over the weekend.
Trustees transferred over 30,000 BTC from “1FG2C…Rveoy” to “1Fhod…LFRT,” a new wallet, and $200 million to a Mt. Gox cold wallet. “1FG2C…Rveoy” was the largest receiver of BTC in a Mt. Gox wallet movement last week, as reported.
Such wallet transfers are usually a consolidation of holdings to new addresses before they are sent to crypto exchanges, where the bitcoin is sold on the open market.
Mt. Gox was once the world’s top crypto exchange, handling over 70% of all bitcoin transactions in its early years. In early 2014, hackers attacked the exchange, losing an estimated 740,000 bitcoin (more than $15 billion at current prices). The hack was the biggest of the many attacks on the exchange in the years 2010-13.
Trustees have put together a repayment plan that has a deadline of October 31, 2025, per the latest filings.
Edited by Parikshit Mishra.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.