Mt. Gox, the infamous defunct cryptocurrency exchange, is making headlines again. Data shows they’ve moved over $1 billion worth of Bitcoin.
A Billion-Dollar Transfer
On-chain analysis firm Arkham Intelligence reported that Mt. Gox shifted 11,501.4 Bitcoin (BTC) – over a billion dollars – into two different wallets on March 25th, 2025. This wasn’t a one-off event; they’d already made similar large transfers on March 6th and 11th. Arkham confirmed Mt. Gox still holds around 35,000 BTC, worth over $3 billion.
Where Did the Bitcoin Go?
The March 25th transfer saw 899 BTC going to one wallet (1Jbez), and a whopping 10,608 BTC to another (1DcoA). Another analytics firm, Spot On Chain, added that some of Mt. Gox’s recent transfers were directed to Bitstamp, a different exchange. They also noted that a previous transfer of 12,000 BTC (around $1 billion) on March 6th had a portion sent to BitGo, a custodian handling creditor repayments. Some Bitcoin also went to a Mt. Gox cold wallet.
A History of Transfers
Mt. Gox’s Bitcoin shuffling started in June 2024, with an initial transfer of $9.2 billion worth of BTC. These recent moves are part of a larger ongoing process. They also moved a significant amount of Bitcoin on March 11th, 2025.
Paying Back Creditors?
Mt. Gox famously collapsed in 2014, losing hundreds of thousands of Bitcoins. A court-appointed trustee is managing the bankruptcy proceedings, and Mt. Gox has until October 31st, 2025, to repay affected customers. These massive Bitcoin movements strongly suggest that’s exactly what’s happening.
Market Impact?
While these transfers are significant, their immediate impact on the broader cryptocurrency market is unclear. However, the sheer scale of the transactions is certainly noteworthy and warrants attention.
